Post Utme Summit University 2025 Accounting Question 16

Practice objective / multiple choice question 16 from the 2025 Post Utme Summit University Accounting examination.

Post Utme Summit University 2025 Accounting Objective / Multiple Choice
Question 16 POST_UTME_SUMMIT_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's bank statement shows a balance of ₦70,000 while the cash book balance is ₦80,000. The bank statement also shows a credit of ₦15,000 for 'Interest Received' which is not recorded in the cash book. What is the correct bank reconciliation statement?

Answer Options

A. ₦70,000 (Bank Statement Balance) + ₦15,000 (Interest Received) = ₦85,000
B. ₦70,000 (Bank Statement Balance) - ₦15,000 (Interest Received) = ₦55,000
Correct Answer C. ₦80,000 (Cash Book Balance) - ₦15,000 (Interest Received) = ₦65,000
D. ₦80,000 (Cash Book Balance) + ₦15,000 (Interest Received) = ₦95,000
Correct Answer
C
Correct Option:
₦80,000 (Cash Book Balance) - ₦15,000 (Interest Received) = ₦65,000

About This Question

This is Post Utme Summit University 2025 Accounting Question 16. It is one of the objective questions from the 2025 Post Utme Summit University Accounting examination.

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