Gce Model Questions Vol1 2024 Financial Accounting Question 4
Practice objective / multiple choice question 4 from the 2024 Gce Model Questions Vol1 Financial Accounting examination.
The combined cash and bank book for the month shows the following (all amounts in \(\text{₦}\)):\n\nOpening balances: Cash \(15,000\), Bank \(40,000\).\nReceipts: Cash sales \(25,000\), Cash received from debtors \(30,000\), Deposit of cash sales to bank \(30,000\).\nPayments: Cash purchases \(18,000\), Cash paid to creditors \(10,000\), Rent paid by bank \(12,000\).\nClosing balances recorded: Cash \(12,000\), Bank \(45,000\).\nThe bank statement for the month shows a closing balance of \(48,000\) and a bank charge of \(500\) that has not been entered in the cash book. Determine the amount of the missing receipt that should be recorded in the cash book.
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About This Question
This is Gce Model Questions Vol1 2024 Financial Accounting Question 4. It is one of the objective questions from the 2024 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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