Waec Model Questions Vol1 2023 Financial Accounting Question 3
Practice objective / multiple choice question 3 from the 2023 Waec Model Questions Vol1 Financial Accounting examination.
The bank statement of ABC Co shows a closing balance of ₦85,000. The cash book (per books) shows a closing balance of ₦88,500. The following items are known: - Outstanding checks: ₦4,200 - Deposits in transit: ₦3,600 - Bank service charge (not yet recorded in the cash book): ₦150 - Interest earned (not yet recorded in the cash book): ₦200 - An error in the cash book where a payment of ₦2,500 was recorded instead of the actual ₦2,000. After making all necessary adjustments, what is the corrected cash book balance?
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About This Question
This is Waec Model Questions Vol1 2023 Financial Accounting Question 3. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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