Gce Model Questions Vol1 2022 Financial Accounting Question 1
Practice objective / multiple choice question 1 from the 2022 Gce Model Questions Vol1 Financial Accounting examination.
A company's cash book shows a balance of \(\text{₦}14,850\). The bank statement balance is \(\text{₦}15,200\). Outstanding checks are \(\text{₦}420\), \(\text{₦}560\) and an unknown amount \(X\). Deposits in transit total \(\text{₦}300\) and \(\text{₦}480\). A bank error recorded a cheque as \(\text{₦}250\) instead of the correct \(\text{₦}200\). After reconciling, the adjusted cash book balance must equal the adjusted bank balance of \(\text{₦}15,000\). What is the value of \(X\)?
Answer Options
About This Question
This is Gce Model Questions Vol1 2022 Financial Accounting Question 1. It is one of the objective questions from the 2022 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.