Neco Model Questions Vol1 2019 Financial Accounting Question 16
Practice objective / multiple choice question 16 from the 2019 Neco Model Questions Vol1 Financial Accounting examination.
During the month, the Purchases Returns Control Account had an opening credit balance of \(N10,000\). Two credit entries were recorded: \(N5,000\) and an unknown amount \(X\). Debit entries recorded were \(N2,000\) and \(N1,500\). The total credit balances of the suppliers' ledger amount to \(N12,000\). Assuming the control account must agree with the suppliers' ledger, determine the value of \(X\).
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About This Question
This is Neco Model Questions Vol1 2019 Financial Accounting Question 16. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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