Waec Model Questions Vol1 2017 Financial Accounting Question 32
Practice objective / multiple choice question 32 from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
The trial balance of XYZ Ltd shows: - Sales ₦23,456 (credit) - Purchases ₦0 (debit) - Suspense Account ₦1,200 (debit) After review, two errors are discovered: 1. The sales figure was transposed; the correct amount should be ₦32,456. 2. A purchase of ₦12,800 was omitted. To correct the errors, the following entries are posted to the suspense account: - The sales correction posts the difference of ₦9,000 to the suspense account. - The omitted purchase posts a credit of ₦12,800 to the suspense account. What is the final balance of the suspense account after these corrections?
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About This Question
This is Waec Model Questions Vol1 2017 Financial Accounting Question 32. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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