Neco 2018 Financial Accounting Question 15
Practice objective / multiple choice question 15 from the 2018 Neco Financial Accounting examination.
The cash book shows a balance of \(85,000\). The bank statement balance is \(78,500\). The following items are outstanding: outstanding checks \(4,200\), deposits in transit \(3,600\). The bank has charged service fees of \(250\) and credited interest of \(120\) which are not yet recorded in the cash book. A receipt of \(1,500\) was mistakenly entered as \(1,200\) in the cash book. The bank also omitted a credit of \(7,270\) on the statement. Prepare the bank reconciliation and state the adjusted cash book balance.
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About This Question
This is Neco 2018 Financial Accounting Question 15. It is one of the objective questions from the 2018 Neco Financial Accounting examination.
Difficulty level: Medium .
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