A-LevelAccountingBank ReconciliationOct/Nov 2016Paper 1 Q51 Mark
The year-end balance in the cash book was $23780. This was different from the balance on the bank statement. The difference was due to the following items. $ bank charges 216 a customer's cheque which was dishonoured 1375 a bank error meant a cheque was incorrectly debited to the bank account 560 What should be the value of bank in the statement of financial position?
A$21629
B$22189
C$25371
D$25931
✓ Correct Answer
The correct answer is B. 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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