Gce Model Questions Vol1 2020 Financial Accounting Question 31
Practice objective / multiple choice question 31 from the 2020 Gce Model Questions Vol1 Financial Accounting examination.
Given the trial balance below, the total of the expense accounts (Purchases, Salaries and Rent) is known to be \(₦15,000\). It is also known that the Purchases and Rent accounts are correctly stated. Determine the correct amount that should be shown in the Salaries account. Trial Balance (debits side): Cash \(₦12,000\); Purchases \(₦8,500\); Salaries \(₦4,800\); Rent \(₦2,200\); Accounts Receivable \(₦3,600\). Credits side: Capital \(₦20,000\); Sales \(₦9,000\); Accounts Payable \(₦1,600\); Unearned Revenue \(₦500\).
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About This Question
This is Gce Model Questions Vol1 2020 Financial Accounting Question 31. It is one of the objective questions from the 2020 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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