Neco Model Questions Vol1 2019 Financial Accounting Question 46
Practice objective / multiple choice question 46 from the 2019 Neco Model Questions Vol1 Financial Accounting examination.
The cash book for the month shows an opening balance of \(\N{Naira}15,000\) (debit). During the month the following cash receipts were recorded: cash sales \(\N{Naira}22,500\), loan received \(\N{Naira}5,000\) and interest received \(\N{Naira}300\). Cash payments recorded were: rent \(\N{Naira}8,000\), salaries \(\N{Naira}6,500\), purchase of supplies \(\N{Naira}4,200\), electricity \(\N{Naira}1,200\) and a cheque for \(\N{Naira}3,000\) that was entered **twice**. A bank charge of \(\N{Naira}150\) was omitted from the payments. What is the corrected closing balance in the cash book at the end of the month?
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About This Question
This is Neco Model Questions Vol1 2019 Financial Accounting Question 46. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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