Neco 2017 Financial Accounting Question 31
Practice objective / multiple choice question 31 from the 2017 Neco Financial Accounting examination.
Opening cash balance is \(12,000\) naira. During the month the cash book records the following receipts: \(5,000\) naira from sales and \(2,500\) naira from a loan. Payments recorded are: \(3,000\) naira for purchases, \(1,200\) naira for salaries and \(800\) naira for utilities. At month end it is discovered that a cash receipt of \(1,500\) naira from a customer was omitted, and that a payment of \(600\) naira for office supplies was mistakenly recorded as \(6,000\) naira. Determine the corrected closing cash balance.
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About This Question
This is Neco 2017 Financial Accounting Question 31. It is one of the objective questions from the 2017 Neco Financial Accounting examination.
Difficulty level: Medium .
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