Neco 2021 Financial Accounting Question 38
Practice objective / multiple choice question 38 from the 2021 Neco Financial Accounting examination.
The cash book (two‑column) was opened with a balance of ₦25,000. During the month the following transactions were recorded:\n\nReceipts: Sales ₦18,000; Loan received ₦5,000; Customer A payment ₦7,200.\nPayments: Rent ₦4,500; Salaries ₦6,800; Purchase of supplies ₦3,200; Electricity bill ₦1,150.\n\nA bank overdraft interest of ₦250 was charged by the bank but not recorded, and a cash sale of ₦2,500 was entered twice. Determine the corrected closing cash balance at the end of the month.
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About This Question
This is Neco 2021 Financial Accounting Question 38. It is one of the objective questions from the 2021 Neco Financial Accounting examination.
Difficulty level: Medium .
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