Gce Model Questions Vol1 2023 Financial Accounting Question 37
Practice objective / multiple choice question 37 from the 2023 Gce Model Questions Vol1 Financial Accounting examination.
The trial balance of a company shows total debits of £150,000 and total credits of £147,500, giving a discrepancy of £2,500 (debits exceed credits). Investigation reveals two errors: (i) a purchase invoice of £3,200 was recorded as £2,200, and (ii) a sales invoice of £1,500 was omitted from the books. After correcting these errors, what balance (including its nature as debit or credit) should be shown in the suspense account to restore the trial balance?
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About This Question
This is Gce Model Questions Vol1 2023 Financial Accounting Question 37. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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