Waec Model Questions Vol1 2022 Financial Accounting Question 33
Practice objective / multiple choice question 33 from the 2022 Waec Model Questions Vol1 Financial Accounting examination.
A trial balance shows total debits of ₦2,350,000 and total credits of ₦2,340,000. The accountant discovers two posting errors: 1. A purchase of ₦45,000 was debited to Purchases but its corresponding credit was omitted. 2. A sales entry of ₦35,000 was credited to Sales but its corresponding debit was omitted. What amount should be transferred to the Suspense Account to bring the trial balance into balance?
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About This Question
This is Waec Model Questions Vol1 2022 Financial Accounting Question 33. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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