Gce Model Questions Vol1 2019 Financial Accounting Question 34
Practice objective / multiple choice question 34 from the 2019 Gce Model Questions Vol1 Financial Accounting examination.
A bank statement for the month shows a closing balance of \(\,\text{₦}22,500\). The cash book for the same period shows a closing balance of \(\,\text{₦}24,800\). The following items are known:\n\n- Deposits in transit: \(\,\text{₦}1,200\)\n- Outstanding cheques: \(\,\text{₦}2,500\) and \(\,\text{₦}1,300\)\n- Bank charges not yet recorded in the cash book: \(\,\text{₦}80\)\n- Interest received by the bank but not yet recorded in the cash book: \(\,\text{₦}150\)\n- A cheque received from a customer was entered in the cash book as \(\,\text{₦}3,400\) whereas the actual amount was \(\,\text{₦}3,040\).\n\nAfter correcting the error and including the bank's interest and charges, what should be the adjusted cash‑book balance?
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About This Question
This is Gce Model Questions Vol1 2019 Financial Accounting Question 34. It is one of the objective questions from the 2019 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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