Neco 2021 Financial Accounting Question 24
Practice objective / multiple choice question 24 from the 2021 Neco Financial Accounting examination.
A company's cash book shows a closing balance of \( \text{₦}85,000 \). The bank statement for the same date shows a closing balance of \( \text{₦}90,000 \). Outstanding checks total \( \text{₦}7,000 \) and deposits in transit total \( \text{₦}4,000 \). Additionally, a cheque of \( \text{₦}2,500 \) was recorded in the cash book as \( \text{₦}2,050 \). Determine the adjusted cash book balance after correcting the error and the balance per bank after reconciliation.
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About This Question
This is Neco 2021 Financial Accounting Question 24. It is one of the objective questions from the 2021 Neco Financial Accounting examination.
Difficulty level: Medium .
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