Waec Model Questions Vol1 2018 Financial Accounting Question 20
Practice objective / multiple choice question 20 from the 2018 Waec Model Questions Vol1 Financial Accounting examination.
The cash book (two‑column) of a small firm shows the following entries for the month: Opening balance: ₦12,500 Receipts: - Cash sales: ₦45,000 - Received from debtor: ₦8,200 - Loan received: ₦20,000 - Bank interest earned (not yet recorded): ₦350 Payments: - Purchases paid cash: ₦30,000 - Rent paid: ₦12,000 - Salaries paid: ₦15,500 - Bank service charge (recorded): ₦200 - Miscellaneous expense recorded as ₦1,500 (the correct amount should be ₦1,200) After correcting the cash book for the unrecorded interest and the expense error, what is the closing cash balance?
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About This Question
This is Waec Model Questions Vol1 2018 Financial Accounting Question 20. It is one of the objective questions from the 2018 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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