Waec Model Questions Vol1 2019 Financial Accounting Question 49
Practice objective / multiple choice question 49 from the 2019 Waec Model Questions Vol1 Financial Accounting examination.
A trial balance shows total debits of ₦1,050,000 and total credits of ₦1,020,000, giving a debit excess of ₦30,000. It is later discovered that a sales return of ₦12,000 was recorded on the debit side but the corresponding credit entry to Sales Returns was omitted. After correcting this omission, will the trial balance balance? If not, state the remaining difference and which side is in excess.
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About This Question
This is Waec Model Questions Vol1 2019 Financial Accounting Question 49. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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