Neco 2018 Financial Accounting Question 40

Practice objective / multiple choice question 40 from the 2018 Neco Financial Accounting examination.

Neco 2018 Financial Accounting Objective / Multiple Choice Hard Difficulty
Question 40 NECO • 2018 • FINANCIAL_ACCOUNTING • objective

A sole trader's cash book for March is missing the cash receipts column. The following information is known:\n\n- Opening cash balance on 1 March: \(\text{₦}15,000\)\n- Total cash payments recorded for March (purchases, expenses, drawings): \(\text{₦}48,500\)\n- Bank statement closing balance on 31 March: \(\text{₦}22,000\)\n- Total deposits shown on the bank statement for March: \(\text{₦}30,000\)\n- At the end of March the cash‑book balance (without receipts) shows a deficit of \(\text{₦}5,500\)\n- Cash sales during March amounted to \(\text{₦}12,000\) and were deposited in the bank on the same day\n\nDetermine the total cash receipts that should have been recorded in the cash book for March.

Answer Options

Correct Answer A. 27500
B. 26500
C. 25000
D. 28500
Correct Answer
A
Correct Option:
27500

About This Question

This is Neco 2018 Financial Accounting Question 40. It is one of the objective questions from the 2018 Neco Financial Accounting examination.

Difficulty level: Hard .

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