Waec Model Questions Vol1 2019 Financial Accounting Question 7
Practice objective / multiple choice question 7 from the 2019 Waec Model Questions Vol1 Financial Accounting examination.
The cash book of XYZ Ltd. shows a cash balance of ₦85,000 at month‑end. The following items are identified: • A cash receipt of ₦2,200 was recorded as ₦2,020. • Bank service charges of ₦1,200 were not recorded in the cash book. • Outstanding checks amount to ₦9,200. • Deposits in transit amount to ₦4,800. • The bank statement shows a balance of ₦78,500, but a cheque of ₦2,500 was omitted by the bank. What should be the corrected cash‑book balance after incorporating all the above adjustments? Express your answer in naira.
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About This Question
This is Waec Model Questions Vol1 2019 Financial Accounting Question 7. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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