Post Utme Afe Babalola University 2022 Accounting Question 29

Practice objective / multiple choice question 29 from the 2022 Post Utme Afe Babalola University Accounting examination.

Post Utme Afe Babalola University 2022 Accounting Objective / Multiple Choice
Question 29 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's cash book showed a balance of ₦ 10,000. The company's bank statement showed a balance of ₦ 12,000. The difference between the two balances is ₦ 2,000. Prepare the necessary journal entry to reconcile the two balances.

Answer Options

Correct Answer A. Debit Cash ₦ 2,000, Credit Bank ₦ 2,000
B. Debit Bank ₦ 2,000, Credit Cash ₦ 2,000
C. Debit Cash ₦ 1,000, Credit Bank ₦ 1,000
D. Debit Bank ₦ 1,000, Credit Cash ₦ 1,000
Correct Answer
A
Correct Option:
Debit Cash ₦ 2,000, Credit Bank ₦ 2,000

About This Question

This is Post Utme Afe Babalola University 2022 Accounting Question 29. It is one of the objective questions from the 2022 Post Utme Afe Babalola University Accounting examination.

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