Neco 2025 Financial Accounting Question 5

Practice essay / theory question 5 from the 2025 Neco Financial Accounting examination. This question covers Trial Balance .

Neco 2025 Financial Accounting Essay / Theory

Topic: Trial Balance

Question 5 NECO • 2025 • FINANCIAL_ACCOUNTING • essay

The following ledger account balances were extracted at the end of the financial year for XYZ Ltd. All amounts are in Nigerian Naira (₦).

Question Parts

( a )

Prepare a trial balance showing the debit and credit columns for the accounts listed.

( b )

State the difference between the total debits and total credits.

( c )

Assuming the discrepancy is caused by a single mis‑posted amount, identify which account could be responsible and propose the correcting journal entry.

( d )

Explain why a trial balance does not guarantee that the ledger is free from errors.

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About This Question

This is Neco 2025 Financial Accounting Question 5. It is one of the essay questions from the 2025 Neco Financial Accounting examination.

The question covers Trial Balance .

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