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