Gce Model Questions Vol1 2024 Financial Accounting Question 6
Practice objective / multiple choice question 6 from the 2024 Gce Model Questions Vol1 Financial Accounting examination.
During January the following transactions occurred. The business uses a single cash book that records both cash and bank columns. Opening cash balance is \(£500\) and opening bank balance is \(£1,200\). 1. 5 Jan - Bought goods on credit from Supplier A, \(£2,400\). 2. 8 Jan - Sold goods for cash, \(£3,150\). 3. 12 Jan - Received cash from Customer B for a previous credit sale, \(£1,200\). 4. 15 Jan - Paid cash to Supplier A, \(£800\). 5. 20 Jan - Received a bank transfer from Customer C for goods sold on credit, \(£2,500\). Record each transaction in the appropriate column of the cash book and then calculate the closing cash balance at the end of January.
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About This Question
This is Gce Model Questions Vol1 2024 Financial Accounting Question 6. It is one of the objective questions from the 2024 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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