Neco Model Questions Vol1 2019 Financial Accounting Question 10
Practice objective / multiple choice question 10 from the 2019 Neco Model Questions Vol1 Financial Accounting examination.
A cash book (two‑column) shows an opening balance of \(15,000\) Naira. During the month the following cash receipts were recorded: cash sales \(45,000\) Naira, loan received \(8,000\) Naira and interest received \(5,000\) Naira. The cash payments recorded were: purchases \(12,000\) Naira, salaries \(6,000\) Naira, utilities \(3,000\) Naira, drawings \(2,000\) Naira and an erroneous bank charge of \(500\) Naira. Later it was discovered that a cash receipt of \(1,200\) Naira had been omitted. What is the corrected closing cash balance?
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About This Question
This is Neco Model Questions Vol1 2019 Financial Accounting Question 10. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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