Post Utme Esut 2023 Accounting Question 39

Practice objective / multiple choice question 39 from the 2023 Post Utme Esut Accounting examination.

Post Utme Esut 2023 Accounting Objective / Multiple Choice
Question 39 POST_UTME_ESUT • 2023 • ACCOUNTING • objective

A company's cash book shows a balance of ₦120,000. However, the bank statement shows a balance of ₦110,000. The difference of ₦10,000 is due to a dishonored cheque of ₦5,000 and a bank charge of ₦5,000. What is the correct journal entry to reconcile the cash book and bank statement?

Answer Options

Correct Answer A. ₦5,000 Debit Cash, ₦5,000 Credit Bank Charges
B. ₦5,000 Debit Bank Charges, ₦5,000 Credit Cash
C. ₦10,000 Debit Cash, ₦10,000 Credit Bank Charges
D. ₦10,000 Debit Bank Charges, ₦10,000 Credit Cash
Correct Answer
A
Correct Option:
₦5,000 Debit Cash, ₦5,000 Credit Bank Charges

About This Question

This is Post Utme Esut 2023 Accounting Question 39. It is one of the objective questions from the 2023 Post Utme Esut Accounting examination.

View More Post Utme Esut 2023 Accounting Questions More Post Utme Esut Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support