Neco Model Questions Vol1 2022 Financial Accounting Question 33
Practice objective / multiple choice question 33 from the 2022 Neco Model Questions Vol1 Financial Accounting examination.
A trial balance after posting shows total debits of \(\,\text{₦}245,000\) and total credits of \(\,\text{₦}242,000\). The following errors are discovered: 1. A purchase invoice of \(\,\text{₦}3,200\) was omitted. 2. A cash payment of \(\,\text{₦}1,500\) was recorded twice. 3. A sales return of \(\,\text{₦}2,000\) was posted to the Sales account instead of the Sales Returns account. Determine the amount that should be transferred to the suspense account to balance the trial balance.
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About This Question
This is Neco Model Questions Vol1 2022 Financial Accounting Question 33. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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