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SingaporeAccountingQuick questions
Inventory and Bank Reconciliation
Quick questions on Updating the cash book: N(A)-Level Principles of Accounts
4short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is the dishonoured cheque?Show answer
When a customer's cheque bounces, the receipt the business recorded never really happened. It is reversed by crediting the cash book (reducing the balance), and the customer's account is debited again because they still owe the money.
What is q1?Show answer
State the side of the cash book on which a standing order payment is recorded. [1 mark]
What is q2?Show answer
Interest received of \25$ appears on the bank statement only. State the entry in the cash book. [2 marks]
What is q3?Show answer
Explain why the cash book must be updated before preparing the reconciliation statement. [2 marks]
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