A-LevelAccountingBank Reconciliation StatementsMay/June 2024Paper 1 Q81 Mark
The bank statement of a business showed a credit balance of $3421, which did not agree with the balance in the cash book. Further investigation revealed that a receipt entered in the cash book for $125 and a payment for $455 had not yet appeared on the bank statement. The bank statement showed bank charges of $64 and a credit transfer of $177 which had not been entered in the cash book. Which balance was shown in the cash book before making the necessary changes and preparing a reconciliation statement?
A$2978
B$3091
C$3204
D$3421
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of bank reconciliation statements 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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