Waec Model Questions Vol1 2017 Financial Accounting Question 27
Practice objective / multiple choice question 27 from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
A business maintains a two‑column cash book (Cash and Bank). The opening balances are Cash ₦15,000 and Bank ₦5,000. During the month the following transactions occurred:\n1) Received cash from a customer ₦12,000.\n2) Paid cash for office rent ₦4,500.\n3) Deposited cash into the bank ₦8,000.\n4) Paid a bank cheque to a supplier ₦6,500.\n5) Received bank interest at 5% on the opening bank balance.\n6) Made a cash sale of ₦9,000 that was recorded directly in the bank column as a deposit.\nDetermine the closing balances of Cash and Bank at the end of the month.
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About This Question
This is Waec Model Questions Vol1 2017 Financial Accounting Question 27. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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