Gce Model Questions Vol1 2020 Financial Accounting Question 29
Practice objective / multiple choice question 29 from the 2020 Gce Model Questions Vol1 Financial Accounting examination.
At 31 March the cash book of a company shows a balance of £45,800. The bank statement for the same date shows a balance of £48,200. The following items have been identified:\n\n- Outstanding checks: £3,500 and £1,200.\n- Deposits in transit: £4,030.\n- A bank charge of £120 not yet recorded in the cash book.\n- A customer's cheque was recorded in the cash book as £1,500 instead of the correct £1,050.\n- The bank has incorrectly credited the company's account with £2,300 (a loan to another customer).\n\nPrepare the bank reconciliation and state the corrected cash book balance after all adjustments.
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About This Question
This is Gce Model Questions Vol1 2020 Financial Accounting Question 29. It is one of the objective questions from the 2020 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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