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JAMB Principles of Accounts 2007 Question 46

Question 46

Trial Balance

Given:
Returns inwards ₦1 500
Cash ₦1 550
Discount received ₦2 850
Capital ₦3 800
Debtors ₦900
Sundry expenses ₦?
The value of sundry expenses is 150% of returns inwards plus 50% of debtors.
The total of the trial balance is

  1. A.₦6 600
  2. B.₦6 650
  3. C.₦5 600
  4. D.₦5 900.
Show the answer and explanation

Answer: B (₦6 650)

Explanation

Debits: 1 500 + 1 550 + 900 + 2 700 = ₦6 650. Credits: 2 850 + 3 800 = ₦6 650.