Gce Model Questions Vol1 2025 Financial Accounting Question 49
Practice objective / multiple choice question 49 from the 2025 Gce Model Questions Vol1 Financial Accounting examination.
Before adjustments, a trial balance shows the following balances (debit unless noted): Sales £150,000 (cr), Purchases £90,000 (dr), Rent expense £12,000 (dr), Salaries expense £18,000 (dr), Trade receivables £25,000 (dr), Trade payables £30,000 (cr), Capital £80,000 (cr), Drawings £5,000 (dr). The total debit side is £200,000 and the credit side is £265,000. Two adjusting entries are to be made: an accrued electricity expense of £3,000 (dr) and a correction of an overstated purchase amount by £2,000 (cr). After these adjustments the trial balance should balance. What amount was omitted from the debit side?
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About This Question
This is Gce Model Questions Vol1 2025 Financial Accounting Question 49. It is one of the objective questions from the 2025 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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