Neco 2020 Financial Accounting Question 21
Practice objective / multiple choice question 21 from the 2020 Neco Financial Accounting examination.
During the month the cash book shows an opening balance of ₦12,000. Receipts recorded are cash sales of ₦45,000, a loan of ₦10,000 and a customer payment of ₦8,000. Payments recorded are rent of ₦15,000, salaries of ₦20,000, purchase of inventory of ₦12,000 and a bank service charge of ₦500 (which appears only on the bank statement). The cash‑book balance at month end is recorded as ₦27,500. The bank statement shows a balance of ₦30,200. Outstanding checks amount to ₦3,200 and deposits in transit amount to ₦2,500. A cheque received from a customer for ₦4,000 was later dishonoured and appears as a deduction on the bank statement but was recorded in the cash book as a receipt. Assuming all other entries are correct, what amount of cash receipt was omitted from the cash book?
Answer Options
About This Question
This is Neco 2020 Financial Accounting Question 21. It is one of the objective questions from the 2020 Neco Financial Accounting examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.