Gce Model Questions Vol1 2021 Financial Accounting Question 19
Practice objective / multiple choice question 19 from the 2021 Gce Model Questions Vol1 Financial Accounting examination.
The Sales Ledger Control account shows an opening debit balance of \(₦250,000\). During the year total credit sales were \(₦720,000\) and cash received from debtors amounted to \(₦480,000\). At year‑end the control account shows a closing debit balance of \(₦?\). The subsidiary ledger lists outstanding balances as follows: Debtor X \(₦45,000\), Debtor Y \(₦38,000\), Debtor Z \(₦27,000\) and Debtor W \(₦?\). The total of the subsidiary ledger must equal the control account closing balance. Determine the closing balance of the Sales Ledger Control account and the outstanding balance of Debtor W.
Answer Options
About This Question
This is Gce Model Questions Vol1 2021 Financial Accounting Question 19. It is one of the objective questions from the 2021 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.