Post Utme Redeemers University 2021 Accounting Question 23

Practice objective / multiple choice question 23 from the 2021 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2021 Accounting Objective / Multiple Choice

Question 23 POST_UTME_REDEEMERS_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's cash book showed a balance of £ 10,000. However, the bank statement showed a balance of £ 12,000. What is the correct journal entry to reconcile the difference?

Answer Options

Correct Answer A. Debit Cash £ 2,000, Credit Bank £ 2,000

B. Debit Bank £ 2,000, Credit Cash £ 2,000

C. Debit Cash £ 2,000, Credit Profit and Loss £ 2,000

D. Debit Profit and Loss £ 2,000, Credit Cash £ 2,000

Correct Answer

Correct Option:

Debit Cash £ 2,000, Credit Bank £ 2,000

About This Question

This is Post Utme Redeemers University 2021 Accounting Question 23. It is one of the objective questions from the 2021 Post Utme Redeemers University Accounting examination.

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