Neco 2022 Financial Accounting Question 37
Practice objective / multiple choice question 37 from the 2022 Neco Financial Accounting examination.
The trial balance of a company shows total debits of \(250,000\) and total credits of \(247,000\). Two errors are known: (i) a purchase of \(15,000\) was recorded instead of \(1,500\) (a transposition error); (ii) a sales return of \(2,500\) was omitted entirely. After correcting these errors, what amount should be shown in the suspense account to balance the trial balance?
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About This Question
This is Neco 2022 Financial Accounting Question 37. It is one of the objective questions from the 2022 Neco Financial Accounting examination.
Difficulty level: Medium .
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