Gce Model Questions Vol1 2025 Financial Accounting Question 32
Practice objective / multiple choice question 32 from the 2025 Gce Model Questions Vol1 Financial Accounting examination.
The trial balance after posting for the month shows total debits of £ 245 000 and total credits of £ 240 000. It is known that two transactions were only partially posted:\n1. A cash purchase of equipment for £ X was recorded only on the debit side (the credit to cash was omitted).\n2. A sales return of £ Y was recorded only on the credit side (the debit to sales returns was omitted).\nIn addition, the cash purchase amount is twice the sales return amount (\(X = 2Y\)). Determine the values of \(X\) and \(Y\) that would correct the trial balance.
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About This Question
This is Gce Model Questions Vol1 2025 Financial Accounting Question 32. It is one of the objective questions from the 2025 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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