Gce Model Questions Vol1 2024 Financial Accounting Question 8
Practice objective / multiple choice question 8 from the 2024 Gce Model Questions Vol1 Financial Accounting examination.
The Purchases Ledger Control (PLC) account has an opening credit balance of \(£5,200\). During the month credit purchases recorded in the PLC total \(£12,800\) and payments to creditors recorded in the PLC total \(£9,400\). The trial balance shows the PLC balance as a credit of \(£8,500\). The total of the individual creditors' balances in the subsidiary ledger at month‑end is \(£8,200\). Using this information, determine by how much the PLC balance shown in the trial balance is understated.
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About This Question
This is Gce Model Questions Vol1 2024 Financial Accounting Question 8. It is one of the objective questions from the 2024 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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