Neco 2025 Financial Accounting Question 35
Practice objective / multiple choice question 35 from the 2025 Neco Financial Accounting examination.
The cash book for the month of June records the following totals (excluding the opening balance): - Total cash receipts: ₦480,000 - Total cash payments: ₦430,000 - Closing cash balance (cash on hand) on 30 June: ₦70,000 The bank column of the cash book shows: - Closing bank balance as per cash book: ₦200,000 - Outstanding cheques: ₦15,000 - Deposits in transit: ₦10,000 - Bank service charges not yet recorded: ₦600 - Interest earned not yet recorded: ₦400 Assuming all cash receipts and payments are recorded in the cash book, determine the opening cash balance (cash on hand) on 1 June.
Answer Options
About This Question
This is Neco 2025 Financial Accounting Question 35. It is one of the objective questions from the 2025 Neco Financial Accounting examination.
Difficulty level: Hard .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.