Gce Model Questions Vol1 2025 Financial Accounting Question 10
Practice objective / multiple choice question 10 from the 2025 Gce Model Questions Vol1 Financial Accounting examination.
The cash book shows a closing balance of \(\text{₦}85,400\). The bank statement for the same date shows a closing balance of \(\text{₦}88,200\). The following items are identified:\n- Deposits in transit: \(\text{₦}1,680\).\n- Outstanding checks: \(\text{₦}2,300\) and \(\text{₦}1,150\).\n- Bank service charge of \(\text{₦}120\) not yet recorded in the cash book.\n- Interest earned on the bank balance of \(\text{₦}250\) not yet recorded in the cash book.\n- A cheque deposited by the company for \(\text{₦}3,200\) was incorrectly entered in the cash book as \(\text{₦}2,300\).\nPrepare the bank reconciliation and state the adjusted cash book balance after all necessary entries have been recorded.
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This is Gce Model Questions Vol1 2025 Financial Accounting Question 10. It is one of the objective questions from the 2025 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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