Waec Model Questions Vol1 2024 Financial Accounting Question 13
Practice objective / multiple choice question 13 from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
On 30 June, the bank statement of Green Co. shows a balance of ₦85,200. The cash book balance is ₦84,500. The following items affect the reconciliation: outstanding checks of ₦3,200 and ₦1,500; deposits in transit of ₦2,800 and ₦1,200; a bank service fee of ₦350 not yet recorded in the cash book; a customer's cheque was entered in the cash book as ₦1,520 instead of the correct amount ₦1,250; and the bank credited interest of an unknown amount X, which has not been recorded in the cash book. Determine the amount of interest X that must be recorded in the cash book so that, after reconciliation, the adjusted cash book balance equals the adjusted bank statement balance.
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About This Question
This is Waec Model Questions Vol1 2024 Financial Accounting Question 13. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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