Waec Model Questions Vol1 2023 Financial Accounting Question 25
Practice objective / multiple choice question 25 from the 2023 Waec Model Questions Vol1 Financial Accounting examination.
A business keeps a double‑column cash book (Cash and Bank). The following transactions occurred during the month: Cash column - Opening balance: ₦20,000 Receipts: Cash sales ₦45,000; Received from debtors ₦30,000; Loan received ₦15,000 Payments: Rent ₦12,000; Salaries ₦18,000; Purchase of supplies ₦10,000 Bank column - Opening balance: ₦50,000 Receipts: Cheque from debtor ₦25,000; Transfer from cash ₦5,000 Payments: Cheque to supplier ₦20,000; ATM withdrawal ₦8,000 Bank reconciliation shows outstanding cheques of ₦6,000 and deposits in transit of ₦4,000. What is the corrected total cash balance (cash on hand plus adjusted bank balance) after reconciliation?
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About This Question
This is Waec Model Questions Vol1 2023 Financial Accounting Question 25. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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