Gce Model Questions Vol1 2023 Financial Accounting Question 13
Practice objective / multiple choice question 13 from the 2023 Gce Model Questions Vol1 Financial Accounting examination.
The cash book shows the following for the bank column: opening balance \(10,000\), total receipts \(5,800\) and total payments \(3,500\). The cash book therefore records a closing bank balance of \(12,300\). The bank statement at the same date shows a balance of \(13,800\). Outstanding checks amount to \(3,200\) and deposits in transit amount to \(1,500\). Bank charges of \(45\) and interest earned of \(30\) have not been entered in the cash book. After reconciling, a payment of \(200\) is discovered to have been recorded twice in the cash book. What should be the corrected cash‑at‑bank balance in the cash book after all adjustments?
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About This Question
This is Gce Model Questions Vol1 2023 Financial Accounting Question 13. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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