Waec Model Questions Vol1 2023 Commerce Question 24
Practice objective / multiple choice question 24 from the 2023 Waec Model Questions Vol1 Commerce examination.
The cash book of XYZ Ltd shows a closing balance of ₦850,000 on 30 June 2024. The bank statement for the same date shows a balance of ₦900,000. The following items are noted:\n\n- Deposits in transit: ₦40,000\n- Outstanding checks: ₦128,000\n- Bank service charges of ₦5,000 not recorded in the cash book\n- A cheque issued for ₦20,000 was recorded in the cash book as ₦2,000 (clerical error)\n- A customer's cheque of ₦15,000 was returned unpaid and not yet recorded in the cash book\n\nPrepare the bank reconciliation and state the corrected cash book balance as at 30 June 2024.
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About This Question
This is Waec Model Questions Vol1 2023 Commerce Question 24. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
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