A-LevelAccountingBank ReconciliationMay/June 2011Paper 1 Q31 Mark
The cash book of a business shows a credit balance of $12 500 at 30 June. Bank charges of $2000 have not yet been entered in the cash book. A cheque for $20 000 received from a debtor, and a cheque for $3000 paid to a creditor have been entered in the cash book, but have not yet been shown on the bank statement. What is the balance shown on the bank statement at 30 June?
A$2500 credit
B$2500 debit
C$31 500 credit
D$31 500 debit
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of bank reconciliation within the Accountingsyllabus. The examiner's mark scheme requires...
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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...
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