Post Utme Nile University 2023 Accounting Question 24

Practice objective / multiple choice question 24 from the 2023 Post Utme Nile University Accounting examination.

Post Utme Nile University 2023 Accounting Objective / Multiple Choice
Question 24 POST_UTME_NILE_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's bank reconciliation statement shows a difference of ₦1,000 between the cash book balance and the bank statement balance. The company's accountant has confirmed that the correct balance should be ₦1,500. What is the correct bank reconciliation entry?

Answer Options

A. ₦1,000 debit to Bank, ₦1,500 credit to Bank
Correct Answer B. ₦1,500 debit to Bank, ₦1,000 credit to Bank
C. ₦1,000 credit to Bank, ₦1,500 debit to Bank
D. ₦1,500 credit to Bank, ₦1,000 debit to Bank
Correct Answer
B
Correct Option:
₦1,500 debit to Bank, ₦1,000 credit to Bank

About This Question

This is Post Utme Nile University 2023 Accounting Question 24. It is one of the objective questions from the 2023 Post Utme Nile University Accounting examination.

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