Waec Model Questions Vol1 2022 Financial Accounting Question 35
Practice objective / multiple choice question 35 from the 2022 Waec Model Questions Vol1 Financial Accounting examination.
A double‑column cash book was opened with a cash balance of ₦80,000 and a bank balance of ₦150,000. The following transactions were recorded: 1. Received cash from a customer ₦25,000 and immediately deposited it into the bank. 2. Paid cash for office supplies ₦12,000. 3. Received a bank loan of ₦40,000 (recorded only in the bank column). 4. Paid a bank cheque for equipment ₦30,000, but the amount was mistakenly entered as ₦3,000 in the cash column. At month‑end the cash column shows a closing balance of ₦93,000. After correcting the error, what should be the correct closing cash balance?
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About This Question
This is Waec Model Questions Vol1 2022 Financial Accounting Question 35. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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