Neco 2021 Financial Accounting Question 34
Practice objective / multiple choice question 34 from the 2021 Neco Financial Accounting examination.
The trial balance of a business before adjustments shows the following debit balances: Cash ₦40,000, Accounts Receivable ₦25,000, Inventory ₦45,000, Equipment ₦90,000, Drawings ₦15,000. Credit balances are: Accumulated Depreciation ₦30,000, Accounts Payable ₦20,000, Capital ₦150,000 and an unknown credit balance X. The total of the debit column is ₦215,000 and the total of the credit column is also ₦215,000. What is the amount of the unknown credit balance X?
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About This Question
This is Neco 2021 Financial Accounting Question 34. It is one of the objective questions from the 2021 Neco Financial Accounting examination.
Difficulty level: Medium .
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