O Level Accounting (7707)•7707/11/M/J/20
Explanation
Insufficient account data to compute balance
Steps:
- Review opening balance and all transactions up to 30 April.
- Add credits (deposits or payments received).
- Subtract debits (withdrawals or payments made).
- Calculate net closing balance.
Why B is correct:
- Not enough information; cannot verify without full transaction details.
Why the others are wrong:
- A: Likely understates credits or overstates debits.
- C: Possible miscalculation of a specific transaction.
- D: Overstates balance by ignoring deductions.
Final answer: B
Topic: Bank reconciliation
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