Accounting Multiple Choice Question – 15 March 2020

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

A firm listed its debtors balances. These totalled £29,175. The balance on the firm’s sales ledger control account did not agree with this total. Upon investigation, the following errors were discovered.

  • A credit balance of £80 on one debtor’s account in the sales ledger had been listed as a debit balance.
  • A debit balance of £67 on another debtor’s account in the sales ledger had been listed as a credit balance.
  • £220 received from a debtor had been entered in the purchases ledger instead of the sales ledger.
  • The list of balances had been overcast by £72.

The correct (debit) balance on the sales ledger control account is?

Select ONE answer:

  1. £28,857
  2. £28,870
  3. £29,001
  4. £29,297

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

  1. Correct – £29,175 – (£80 x 2) + (£67 x 2) – £220 – £72 = £28,857
  2. Not correct
  3. Not correct
  4. Not correct

 

 

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