Gce Model Questions Vol1 2020 Financial Accounting Question 9
Practice objective / multiple choice question 9 from the 2020 Gce Model Questions Vol1 Financial Accounting examination.
The cash book of XYZ Ltd shows a balance of \(150{,}000\) as at 31 March. The bank statement for the same date shows a balance of \(145{,}000\). The following items are identified:\n- Deposits in transit of \(8{,}000\).\n- Outstanding checks totalling \(5{,}500\).\n- A bank error where a cheque of \(2{,}000\) was incorrectly debited to the company's account.\n- Interest earned on the bank balance of \(300\), not yet recorded in the cash book.\n- Bank service charges of \(800\), recorded by the bank but not yet entered in the cash book.\nPrepare a bank reconciliation statement and state the corrected cash book balance.
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About This Question
This is Gce Model Questions Vol1 2020 Financial Accounting Question 9. It is one of the objective questions from the 2020 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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