Accounting Multiple Choice Question – 16 March 2020

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

A firm’s list of debtor balances. which totalled £39,150 did not agree with its debtors ledger control account.

Upon investigation, the following errors were discovered:

  • A credit balance of £70 on one debtor’s account in the sales ledger had been listed as a debit balance.
  • A debit balance of £40 on another debtor’s account in the sales ledger had been listed as a credit balance.
  • The list of balances had been overcast by £60

The correct debit balance brought down on the debtors ledger control account is?

Select ONE answer:

  1. £30,030
  2. £39,060
  3. £39,150
  4. £39,210

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 – £39,150 – (£70 x 2) + (£40 x 2) – £60 = £39,030
  2. Not correct
  3. Not correct
  4. Not correct

 

 

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.