Waec Model Questions Vol1 2017 Financial Accounting Question 5
Practice essay / theory question 5 from the 2017 Waec Model Questions Vol1 Financial Accounting examination. This question covers Trial Balance .
The following ledger account balances were extracted at the end of the accounting period. All amounts are in Naira. - Cash: Dr 45,000 - Accounts Receivable: Dr 30,500 - Inventory: Dr 22,000 - Equipment: Dr 80,000 - Accumulated Depreciation – Equipment: Cr 20,000 - Accounts Payable: Cr 18,500 - Salaries Payable: Cr 12,000 - Capital: Cr 100,000 - Drawings: Dr 15,000 - Sales Revenue: Cr 150,000 - Cost of Goods Sold: Dr 90,000 - Salaries Expense: Dr 25,000 - Rent Expense: Dr 10,000 - Utilities Expense: Dr 5,500 - Interest Expense: Dr 2,500 Using the above information, answer the following questions:
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This is Waec Model Questions Vol1 2017 Financial Accounting Question 5. It is one of the essay questions from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
The question covers Trial Balance .
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