Gce Model Questions Vol1 2025 Financial Accounting Question 6
Practice objective / multiple choice question 6 from the 2025 Gce Model Questions Vol1 Financial Accounting examination.
The cash book for the month shows an opening balance of \(\text{₦}12,000\). During the month the following receipts were recorded: cash sales \(\text{₦}45,600\), a loan received \(\text{₦}8,000\) and a customer payment \(\text{₦}5,500\). The cash sales receipt was entered twice. Payments recorded are rent \(\text{₦}12,000\), salaries \(\text{₦}15,300\) and a petty‑cash replenishment \(\text{₦}2,500\). A purchase of inventory costing \(\text{₦}20,400\) was omitted from the cash book. The business also maintains a petty‑cash float of \(\text{₦}1,200\) which is not shown in the cash book. What is the corrected closing cash balance at the end of the month?
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About This Question
This is Gce Model Questions Vol1 2025 Financial Accounting Question 6. It is one of the objective questions from the 2025 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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