Gce Model Questions Vol1 2019 Financial Accounting Question 5
Practice objective / multiple choice question 5 from the 2019 Gce Model Questions Vol1 Financial Accounting examination.
The cash book of ABC Ltd. shows a closing cash balance of \(\text{₦}85,000\) on 31 March. The bank statement for the same date shows a closing balance of \(\text{₦}78,500\). The following items are known:\n- A cheque of \(\text{₦}4,650\) issued on 28 March was not presented to the bank by the statement date.\n- A customer's deposit of \(\text{₦}3,600\) made on 30 March was not yet credited by the bank.\n- Bank charges of \(\text{₦}250\) were deducted by the bank but not yet recorded in the cash book.\n- The bank paid interest on the balance of \(\text{₦}2,000\) which was not recorded in the cash book.\nPrepare a bank reconciliation and state the adjusted cash book balance.
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About This Question
This is Gce Model Questions Vol1 2019 Financial Accounting Question 5. It is one of the objective questions from the 2019 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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