Gce Model Questions Vol1 2021 Financial Accounting Question 32
Practice objective / multiple choice question 32 from the 2021 Gce Model Questions Vol1 Financial Accounting examination.
A trial balance before adjustments shows total debits of \(£120,500\) and total credits of \(£118,900\). Two adjusting entries are to be made: (i) Accrued interest expense of \(£900\) (debit) and (ii) Prepaid insurance of \(£500\) (credit). After these adjustments the trial balance balances. What amount and type (debit or credit) must the omitted adjusting entry be?
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About This Question
This is Gce Model Questions Vol1 2021 Financial Accounting Question 32. It is one of the objective questions from the 2021 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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