Neco Model Questions Vol1 2019 Financial Accounting Question 13
Practice objective / multiple choice question 13 from the 2019 Neco Model Questions Vol1 Financial Accounting examination.
For the year ended 31 December, a company reported the following figures: Sales (credit) (₦500{,}000); Opening Stock (₦80{,}000); Closing Stock (₦70{,}000); Gross Profit (₦120{,}000). The Purchases amount is missing from the trial balance. Using the relationship between these items, determine the amount that should be posted to the Purchases ledger.
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About This Question
This is Neco Model Questions Vol1 2019 Financial Accounting Question 13. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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