Post Utme Pan Atlantic University 2018 Accounting Question 30

Practice objective / multiple choice question 30 from the 2018 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2018 Accounting Objective / Multiple Choice
Question 30 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2018 • ACCOUNTING • objective

A company's cash book shows a debit balance of ₦200,000. The company's bank statement shows a credit balance of ₦300,000. The bank statement also shows a credit balance of ₦10,000 for an outstanding cheque. What is the correct journal entry to reconcile the cash book and bank statement?

Answer Options

Correct Answer A. ₦200,000 debit Cash, ₦10,000 credit Outstanding Cheque
B. ₦300,000 debit Bank, ₦50,000 credit Outstanding Cheque
C. ₦200,000 credit Cash, ₦10,000 debit Outstanding Cheque
D. ₦300,000 credit Bank, ₦50,000 debit Outstanding Cheque
Correct Answer
A
Correct Option:
₦200,000 debit Cash, ₦10,000 credit Outstanding Cheque

About This Question

This is Post Utme Pan Atlantic University 2018 Accounting Question 30. It is one of the objective questions from the 2018 Post Utme Pan Atlantic University Accounting examination.

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