Gce Model Questions Vol1 2023 Financial Accounting Question 21
Practice objective / multiple choice question 21 from the 2023 Gce Model Questions Vol1 Financial Accounting examination.
A company's cash book shows a balance of \(150,000\) naira, while the bank statement shows a balance of \(145,000\) naira. Outstanding checks total 20% of the cash‑book balance; two of these checks are \(12,000\) naira and \(8,000\) naira, the third amount is unknown. Deposits in transit total 3% of the bank‑statement balance; one deposit of \(2,000\) naira is known, the other is unknown. The bank has charged a fee of \(1,200\) naira that is not recorded in the cash book. Calculate the adjusted cash‑book balance after completing the bank reconciliation.
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About This Question
This is Gce Model Questions Vol1 2023 Financial Accounting Question 21. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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