Subsection 3.3. Bank reconciliation for Accounting, O Level - revisedeck

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3.3. Bank reconciliation

A subsection of Accounting, 7707, through 3. Verification of accounting records

Listing 10 of 28 questions

A trader’s bank statement showed a credit balance of $2940. The following items had not been entered in the cash book. $ bank interest received credit transfer What was the debit balance in the cash book before it was updated?

7707_w20_qp_12

MCQ

2020

Paper 1, Variant 2

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On 1 March 2020 the bank column of a cash book had a credit balance of $290. During March cheques totalling $580 were received and cheques totalling $610 were paid to suppliers. Bank charges of $12 incurred in February were also entered in the cash book. What was the balance of the bank column in the cash book on 1 April 2020?

7707_w20_qp_13

MCQ

2020

Paper 1, Variant 3

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$68 paid by credit transfer for insurance was entered in the accounting records as $86. Which double entry will correct this error?

7707_w22_qp_12

MCQ

2022

Paper 1, Variant 2

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The balance of the bank column in a trader’s cash book was $520 debit. The trader later discovered that the following items did not appear on his bank statement. cheque not yet presented $80 cheque not yet credited $470 What was the balance on the trader’s bank statement?

7707_w23_qp_12

MCQ

2023

Paper 1, Variant 2

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The following entry was made in a journal to record the correction of an error. debit $ credit $ Wasim bank Which error has been corrected?

7707_w23_qp_13

MCQ

2023

Paper 1, Variant 3

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The bank statement of a business had a credit balance of $2690 on 31 October. At that date cheques issued which had not been presented totalled $850. What was the bank balance in the cash book on 31 October?

7707_w24_qp_12

MCQ

2024

Paper 1, Variant 2

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The bank column of a trader’s cash book showed an overdrawn balance of $1200. When the trader compared the cash book with the bank statement he found the following items were not included in the cash book. $ bank charges credit transfer direct debit What was the balance brought down in the bank column of the cash book after it was updated?

7707_w24_qp_12

MCQ

2024

Paper 1, Variant 2

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On 30 June the bank column in Farad’s cash book showed an overdrawn balance of $2000. The following items had not been entered in the cash book. $ standing order for rent interest on bank overdraft credit transfer from X Limited What was the corrected balance of the bank column in the cash book at 1 July?

7707_w24_qp_13

MCQ

2024

Paper 1, Variant 3

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Questions Discovered

28