Waec Model Questions Vol1 2019 Financial Accounting Question 30
Practice objective / multiple choice question 30 from the 2019 Waec Model Questions Vol1 Financial Accounting examination.
A trial balance is out of balance by ₦2,500 (debits exceed credits). The accountant discovers the following errors: (i) a purchase of ₦12,000 was recorded as ₦13,000; (ii) a cash sale of ₦8,500 was recorded as ₦9,500; (iii) a cheque of ₦1,200 was omitted from the cash book. After correcting all three errors, what amount should be posted to the Suspense Account to restore balance, and on which side (debit or credit) should it be posted?
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About This Question
This is Waec Model Questions Vol1 2019 Financial Accounting Question 30. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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