Post Utme Mountain Top University 2023 Accounting Question 2

Practice objective / multiple choice question 2 from the 2023 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2023 Accounting Objective / Multiple Choice
Question 2 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2023 • ACCOUNTING • objective

A bank statement shows a balance of ₦50,000, but the cash book balance is ₦60,000. The bank statement shows a debit of ₦10,000 for 'Bank Charges' and a credit of ₦20,000 for 'Interest Received'. What is the correct bank reconciliation statement?

Answer Options

Correct Answer A. ₦10,000 debit to Bank Charges and ₦20,000 credit to Interest Received
B. ₦10,000 credit to Bank Charges and ₦20,000 debit to Interest Received
C. ₦30,000 debit to Bank Charges and ₦30,000 credit to Interest Received
D. ₦30,000 credit to Bank Charges and ₦30,000 debit to Interest Received
Correct Answer
A
Correct Option:
₦10,000 debit to Bank Charges and ₦20,000 credit to Interest Received

About This Question

This is Post Utme Mountain Top University 2023 Accounting Question 2. It is one of the objective questions from the 2023 Post Utme Mountain Top University Accounting examination.

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