Accounting 0452 · IGCSE · Correction of errors

Correction of errors — practice question

Sameer worked out that his profit for the year came to $6300. He then discovered two mistakes. 1 A cheque for $3250, received from a credit customer, had been entered only in the cash book. 2 The total in the discount allowed column of the cash book, $300, had been credited to the discount received account. What was Sameer’s corrected profit for the year?

  • A$2450
  • B$2750
  • C$5700
  • D$6000

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