Gce Model Questions Vol1 2018 Financial Accounting Question 12
Practice objective / multiple choice question 12 from the 2018 Gce Model Questions Vol1 Financial Accounting examination.
At month‑end the cash book shows a balance of \(7{,}000\) (debit). The bank statement balance is \(8{,}200\). The following items are known: - Outstanding checks: \(800\) - Deposits in transit: \(200\) - A bank fee of \(30\) has been charged by the bank but not yet recorded in the cash book. - The bank has overstated the balance by \(50\) due to an error. - The bank collected a note receivable for the company amounting to \(580\) which has not been recorded in the cash book. Determine the corrected cash‑book balance after completing the bank reconciliation.
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About This Question
This is Gce Model Questions Vol1 2018 Financial Accounting Question 12. It is one of the objective questions from the 2018 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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