Neco 2017 Financial Accounting Question 15
Practice objective / multiple choice question 15 from the 2017 Neco Financial Accounting examination.
Bank Reconciliation - Medium The cash book of a company shows a balance of \(₦85,000\) at 31 March. The bank statement for the same date shows a balance of \(₦78,500\). The following items are identified: - Deposits in transit: \(₦7,000\) - Outstanding checks: \(₦680\) - A bank error: cheque No 102 was recorded by the bank as \(₦1,200\) instead of the correct amount \(₦1,020\). - An NSF cheque from a customer for \(₦2,500\). - Interest earned on the account: \(₦350\). Prepare the bank reconciliation and state the adjusted cash‑book balance.
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About This Question
This is Neco 2017 Financial Accounting Question 15. It is one of the objective questions from the 2017 Neco Financial Accounting examination.
Difficulty level: Medium .
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