Post Utme Lautech 2022 Accounting Question 23

Practice objective / multiple choice question 23 from the 2022 Post Utme Lautech Accounting examination.

Post Utme Lautech 2022 Accounting Objective / Multiple Choice
Question 23 POST_UTME_LAUTECH • 2022 • ACCOUNTING • objective

A company's cash book shows a balance of ₦50,000. The bank statement shows a balance of ₦60,000. The difference is due to an unrecorded deposit of ₦10,000. Prepare the necessary journal entry to reconcile the cash book and bank statement.

Answer Options

Correct Answer A. Debit Cash ₦10,000, Credit Bank ₦10,000
B. Debit Bank ₦10,000, Credit Cash ₦10,000
C. Debit Cash ₦10,000, Credit Profit and Loss Account ₦10,000
D. Debit Profit and Loss Account ₦10,000, Credit Cash ₦10,000
Correct Answer
A
Correct Option:
Debit Cash ₦10,000, Credit Bank ₦10,000

About This Question

This is Post Utme Lautech 2022 Accounting Question 23. It is one of the objective questions from the 2022 Post Utme Lautech Accounting examination.

View More Post Utme Lautech 2022 Accounting Questions More Post Utme Lautech 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