Waec Model Questions Vol1 2023 Financial Accounting Question 41
Practice objective / multiple choice question 41 from the 2023 Waec Model Questions Vol1 Financial Accounting examination.
The Purchases Returns Control Account for the year shows an opening debit balance of ₦12,000, total returns recorded of ₦45,600 on the debit side, and a closing debit balance of ₦8,400. Supplier X's account shows an opening credit balance of ₦30,000, payments of ₦20,000 made during the year, and a closing credit balance of ₦15,800. Assuming all returns should be recorded in both the control account and the supplier's account, determine the amount of purchases returns that were omitted from Supplier X's account.
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About This Question
This is Waec Model Questions Vol1 2023 Financial Accounting Question 41. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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