Gce Model Questions Vol1 2023 Financial Accounting Question 1
Practice objective / multiple choice question 1 from the 2023 Gce Model Questions Vol1 Financial Accounting examination.
At 31 March, the cash book shows a debit balance of \(85,000\). The bank statement shows a credit balance of \(84,500\). The following items affect reconciliation:\n\n- Outstanding cheques: \(7,000\) and \(2,500\).\n- Deposits in transit: \(4,200\) and a cash deposit of \(1,800\) posted on 2 April.\n- Bank error: a customer's cheque for \(3,000\) was mistakenly credited as a deposit of \(3,600\).\n\nNo other items are outstanding. Compute the adjusted cash‑book balance after reconciliation.
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This is Gce Model Questions Vol1 2023 Financial Accounting Question 1. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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