Waec Model Questions Vol1 2024 Financial Accounting Question 29
Practice objective / multiple choice question 29 from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
The Purchases Ledger Control account shows a credit balance of ₦320,000. The total of all individual supplier balances in the Purchases Ledger is ₦310,000. The following errors have been identified: 1. A purchase of ₦4,000 to Supplier X was recorded in the control account but omitted from Supplier X's ledger. 2. A purchase return of ₦2,000 from Supplier Y was recorded in Supplier Y's ledger but omitted from the control account. 3. A duplicate entry of ₦1,000 purchase to Supplier Z was posted in both the control account and Supplier Z's ledger. Determine the correct balance of the Purchases Ledger Control account after making the necessary adjustments.
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About This Question
This is Waec Model Questions Vol1 2024 Financial Accounting Question 29. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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