Accounting 0452 · IGCSE · Correction of errors

Correction of errors — practice question

Plant and machinery, $2000, had been entered on the credit side of the purchases account incorrectly. The draft profit for the year stood at $63 000. Do not take depreciation into account. What amount was the revised profit for the year once this error had been corrected?

  • A$59 000
  • B$61 000
  • C$65 000
  • D$67 000

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