Neco 2023 Financial Accounting Question 47
Practice objective / multiple choice question 47 from the 2023 Neco Financial Accounting examination.
The following ledger balances are extracted after posting:\nDebit balances: Cash \(60,000\); Purchases \(40,000\); Salaries \(25,000\); Rent Expense \(15,000\); Advertising \(10,000\).\nCredit balances: Sales \(100,000\); Capital \(30,000\); Suspense \(5,000\); an unknown credit account. Assuming the trial balance must balance, determine the balance of the unknown credit account.
Answer Options
About This Question
This is Neco 2023 Financial Accounting Question 47. It is one of the objective questions from the 2023 Neco 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.