Gce Model Questions Vol1 2024 Financial Accounting Question 39
Practice objective / multiple choice question 39 from the 2024 Gce Model Questions Vol1 Financial Accounting examination.
At month‑end the company's cash book shows a balance of \(\text{₦}250,000\). The bank statement balance is \(\text{₦}260,000\). The following items are identified: - Outstanding checks: three checks of \(\text{₦}5,000\) each. - Deposits in transit: \(\text{₦}8,000\). - Bank service fee of \(\text{₦}1,200\) not yet recorded in the cash book. - The bank incorrectly credited \(\text{₦}2,500\) to the company's account. - Interest earned on the bank balance of \(\text{₦}1,700\) not yet recorded in the cash book. Prepare the bank reconciliation and state the corrected cash book balance.
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About This Question
This is Gce Model Questions Vol1 2024 Financial Accounting Question 39. It is one of the objective questions from the 2024 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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