Neco 2018 Financial Accounting Question 8
Practice objective / multiple choice question 8 from the 2018 Neco Financial Accounting examination.
The cash book shows a balance of \(\text{₦}120,500\). The bank statement balance is \(\text{₦}118,200\). Outstanding checks of \(\text{₦}600\) and \(\text{₦}350\) have not been cleared. Deposits in transit total \(\text{₦}2,800\). The bank charged a service fee of \(\text{₦}150\) which was not recorded in the cash book. A cheque was recorded in the cash book for \(\text{₦}2,500\) but the actual amount was \(\text{₦}2,800\). Determine the adjusted cash book balance after all reconciling items are taken into account.
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About This Question
This is Neco 2018 Financial Accounting Question 8. It is one of the objective questions from the 2018 Neco Financial Accounting examination.
Difficulty level: Medium .
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