Gce Model Questions Vol1 2023 Financial Accounting Question 11
Practice objective / multiple choice question 11 from the 2023 Gce Model Questions Vol1 Financial Accounting examination.
During preparation of the trial balance, the totals of the debit and credit columns are not equal. The debit total is \(100,700\) and the credit total is \(101,800\). It is known that (i) a transaction of amount \(550\) was recorded on the wrong side (as a credit instead of a debit), and (ii) a single transaction of amount X was omitted entirely. After correcting both errors, the trial balance should balance at a total of \(102,000\). What is the amount X of the omitted transaction?
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About This Question
This is Gce Model Questions Vol1 2023 Financial Accounting Question 11. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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