Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

A trader does not maintain complete records but gives the following details. Bank (debit): 1 January $4240, 31 December $6320 Cash balance: 1 January $264, 31 December $271 Cheques issued in the year amounted to $19\,950. All receipts from sales were paid into the bank, except that cash of $5400 was taken for drawings and $7200 was paid out for wages. Also, $3000 was paid into the bank from the sale of a motor vehicle. What was the total value of sales in the year?

  • A$22\,037
  • B$31\,630
  • C$31\,637
  • D$34\,637

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