O Level Accounting (7707)•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
Practice more O Level Accounting (7707) questions on mMCQ.me