Gce Model Questions Vol1 2025 Financial Accounting Question 7
Practice objective / multiple choice question 7 from the 2025 Gce Model Questions Vol1 Financial Accounting examination.
A trial balance before any adjustments shows total debits of \(\text{₦}152,340\) and total credits of \(\text{₦}150,120\). The accountant discovers two errors: (i) a purchase invoice of \(\text{₦}7,560\) was omitted from the purchases ledger (debit side) and (ii) a sales invoice of \(\text{₦}3,340\) was recorded as \(\text{₦}3,430\) (a transposition error) in the sales ledger (credit side). After correcting these errors, what amount should be transferred to the suspense account to balance the trial balance?
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About This Question
This is Gce Model Questions Vol1 2025 Financial Accounting Question 7. It is one of the objective questions from the 2025 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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