Edexcel IGCSEAccountingGeneral Applications4 Marks
Mila is a sole trader. On 1 April 2019, her bank account showed a debit balance of \2 800. The cash book showed a credit balance of 2 500 on the same date. (a) Explain two reasons why the bank statement balance may differ from the cash book balance.
- (a)Explain two reasons why the bank statement balance may differ from the cash book balance.[4]
Mark scheme
Marking points from the official mark scheme. The mark or mark type is shown in brackets.
- B1 for one reason (1)
- B1 for explanation (1)
- B1 for second reason (1)
- B1 for explanation (1) Reasons could include: * Unpresented cheques * Uncredited cheques (deposits not yet recorded by bank) * Bank charges * Direct debits * Standing orders * Credit transfers/bank interest received * Dishonoured cheques * Errors by bank (though less common for candidates to mention this)
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