Gce Model Questions Vol1 2024 Financial Accounting Question 7
Practice objective / multiple choice question 7 from the 2024 Gce Model Questions Vol1 Financial Accounting examination.
At 31 March the bank statement shows a balance of \(£12,340\). The cash book balance on the same date is \(£12,560\). Outstanding checks amount to \(£1,275\) (three checks of \(£400\), \(£500\) and \(£375\)). Deposits in transit total \(£850\). The bank has charged a fee of \(£45\) that has not been recorded in the cash book. A cheque deposited by the business was incorrectly credited by the bank as \(£1,200\) instead of the correct \(£1,800\). Prepare a bank reconciliation and state the adjusted cash‑book balance after all necessary adjustments.
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About This Question
This is Gce Model Questions Vol1 2024 Financial Accounting Question 7. It is one of the objective questions from the 2024 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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