Post Utme Ksu 2018 Accounting Question 36

Practice objective / multiple choice question 36 from the 2018 Post Utme Ksu Accounting examination.

Post Utme Ksu 2018 Accounting Objective / Multiple Choice
Question 36 POST_UTME_KSU • 2018 • 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. Debit Cash A/c ₦10,000, Credit Bank Charges A/c ₦5,000
B. Debit Bank Charges A/c ₦10,000, Credit Cash A/c ₦5,000
C. Debit Cash A/c ₦5,000, Credit Bank Charges A/c ₦5,000
D. Debit Bank Charges A/c ₦5,000, Credit Cash A/c ₦5,000
Correct Answer
A
Correct Option:
Debit Cash A/c ₦10,000, Credit Bank Charges A/c ₦5,000

About This Question

This is Post Utme Ksu 2018 Accounting Question 36. It is one of the objective questions from the 2018 Post Utme Ksu Accounting examination.

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