Post Utme Futo 2024 Accounting Question 35

Practice objective / multiple choice question 35 from the 2024 Post Utme Futo Accounting examination.

Post Utme Futo 2024 Accounting Objective / Multiple Choice
Question 35 POST_UTME_FUTO • 2024 • ACCOUNTING • objective

A company's bank statement shows a balance of ₦150,000, but the company's cash book shows a balance of ₦120,000. The difference is due to an outstanding cheque of ₦20,000 and an unrecorded deposit of ₦10,000. Prepare the necessary journal entry to reconcile the bank statement and cash book.

Answer Options

Correct Answer A. Debit Bank Overdraft ₦30,000, Credit Cash ₦30,000
B. Debit Cash ₦30,000, Credit Bank Overdraft ₦30,000
C. Debit Bank Overdraft ₦20,000, Credit Cash ₦20,000
D. Debit Cash ₦20,000, Credit Bank Overdraft ₦20,000
Correct Answer
A
Correct Option:
Debit Bank Overdraft ₦30,000, Credit Cash ₦30,000

About This Question

This is Post Utme Futo 2024 Accounting Question 35. It is one of the objective questions from the 2024 Post Utme Futo Accounting examination.

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