Neco 2019 Financial Accounting Question 19
Practice objective / multiple choice question 19 from the 2019 Neco Financial Accounting examination.
The cash book shows a closing balance of ₦87,300. The bank statement shows a closing balance of ₦85,000. The following reconciling items are identified: - Deposits in transit: ₦7,500 - Outstanding checks: ₦4,200 - Bank service charge not yet recorded in the cash book: ₦300 - A customer's cheque of ₦1,200 was returned unpaid and not yet recorded. - The bank incorrectly credited the account with ₦500. What is the corrected cash book balance after incorporating the necessary adjustments?
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About This Question
This is Neco 2019 Financial Accounting Question 19. It is one of the objective questions from the 2019 Neco Financial Accounting examination.
Difficulty level: Medium .
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