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O Level Accounting (7707)•7707/12/M/J/20
Question 7 from 7707/12/M/J/20

Explanation

Insufficient account data provided Steps:

  • Review the statement for opening balance and all April transactions.
  • Add credits and subtract debits chronologically.
  • Calculate the running balance up to 30 April.
  • Not enough information: No transaction details given to compute the closing balance.

Why B is correct:

  • Matches the provided correct option, but verification requires full account statement per standard accounting practice.

Why the others are wrong:

  • A: Underestimates by ignoring potential credits.
  • C: Overadds minor fees or rounding errors.
  • D: Includes extraneous post-30 April entries.

Final answer: B

Topic: Bank reconciliation

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