Gce Model Questions Vol1 2025 Financial Accounting Question 9
Practice objective / multiple choice question 9 from the 2025 Gce Model Questions Vol1 Financial Accounting examination.
A trial balance initially balances with total debits and credits each equal to \(\text{₦}200,000\). Later the accountant discovers two mistakes: (i) a purchase of \(\text{₦}9,800\) was mistakenly recorded as a purchase return (credit) and (ii) a sales entry of \(\text{₦}6,750\) was recorded as a purchase (debit). After correcting both errors, what amount should be transferred to or from the suspense account to restore balance?
Answer Options
About This Question
This is Gce Model Questions Vol1 2025 Financial Accounting Question 9. It is one of the objective questions from the 2025 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.