A-LevelAccountingBank Reconciliation StatementsFeb/Mar 2021Paper 1 Q61 Mark
The bank statement of a business showed a credit balance of $4520. This did not agree with the cash book. The following were discovered. 1 Bank charges of $89 had not been entered in the cash book. 2 There were unpresented cheques paid to suppliers of $680. 3 A dishonoured cheque for $210 appeared on the bank statement, but was not shown in the cash book. 4 Sales receipts of $750 had been entered in the cash book, but did not appear on the bank statement. What is the bank balance to be shown in the statement of financial position?
Acurrent asset $4501
Bcurrent asset $4590
Ccurrent liability $4450
Dcurrent liability $4539
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of bank reconciliation statements within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
🔒
Unlock the Examiner's Answer
Sign up for free to reveal the correct answer, the official mark scheme breakdown, and the examiner trap analysis for this question.
Sign Up Free to Unlock →Join thousands of Cambridge students already using Oracle Prep