Post Utme Rhema University 2019 Accounting Question 24

Practice objective / multiple choice question 24 from the 2019 Post Utme Rhema University Accounting examination.

Post Utme Rhema University 2019 Accounting Objective / Multiple Choice
Question 24 POST_UTME_RHEMA_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's bank statement shows a debit balance of ₦1,500,000. The company's cash book shows a credit balance of ₦800,000 in the bank account. What is the correct journal entry to reconcile the cash book and bank statement?

Answer Options

Correct Answer A. ₦1,500,000 debit to Bank and ₦800,000 credit to Cash
B. ₦1,200,000 debit to Bank and ₦800,000 credit to Cash
C. ₦1,500,000 debit to Cash and ₦800,000 credit to Bank
D. ₦1,200,000 debit to Cash and ₦800,000 credit to Bank
Correct Answer
A
Correct Option:
₦1,500,000 debit to Bank and ₦800,000 credit to Cash

About This Question

This is Post Utme Rhema University 2019 Accounting Question 24. It is one of the objective questions from the 2019 Post Utme Rhema University Accounting examination.

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