Waec Model Questions Vol1 2017 Financial Accounting Question 7
Practice objective / multiple choice question 7 from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
The cash book of XYZ Ltd shows a balance of ₦85,000. The bank statement for the same period shows a balance of ₦78,500. The following items are identified: - Outstanding checks: ₦4,200\n- Deposits in transit: ₦3,600\n- Bank service fee of ₦500 not yet recorded in the cash book\n- A cheque of ₦1,200 deposited by the company was returned unpaid and not yet recorded\n- The bank mistakenly credited the account with ₦900 belonging to another customer. What should be the corrected cash‑book balance after all adjustments?
Answer Options
About This Question
This is Waec Model Questions Vol1 2017 Financial Accounting Question 7. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.