A-LevelAccountingBank ReconciliationMay/June 2013Paper 1 Q71 Mark
At the financial year end of a business the following information is available. [Table: debit balance on the bank statement 1000, unpresented cheques 300, lodgements not yet credited by the bank 600, bank charges and interest charged not yet entered in the cash book 150] What is the current balance in the cash book?
A$400 credit
B$400 debit
C$550 credit
D$550 debit
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of bank reconciliation 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...
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