Neco 2017 Financial Accounting Question 16
Practice objective / multiple choice question 16 from the 2017 Neco Financial Accounting examination.
The company's cash book shows a balance of \(\text{\u20A6}150,000\). The bank statement balance is \(\text{\u20A6}158,000\). Deposits in transit amount to \(\text{\u20A6}12,000\) and outstanding checks total \(\text{\u20A6}9,500\). A cheque that was deposited was later returned as NSF for \(\text{\u20A6}3,200\). The bank mistakenly credited the account with an unknown amount \(X\). After preparing the bank reconciliation, the adjusted cash‑book balance must equal the adjusted bank‑statement balance. What is the value of \(X\)?
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About This Question
This is Neco 2017 Financial Accounting Question 16. It is one of the objective questions from the 2017 Neco Financial Accounting examination.
Difficulty level: Medium .
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