Neco 2021 Financial Accounting Question 36
Practice objective / multiple choice question 36 from the 2021 Neco Financial Accounting examination.
The cash book shows a balance of ₦150,000. The bank statement balance is ₦145,500. Outstanding checks are: a cheque for ₦8,000 not yet presented, and a cheque recorded in the cash book as ₦5,000 but actually for ₦5,500. Deposits in transit amount to ₦3,200. The bank charged a service fee of ₦250 not yet recorded, and a direct debit of ₦1,200 also not recorded. Determine the corrected cash book balance after completing the bank reconciliation.
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About This Question
This is Neco 2021 Financial Accounting Question 36. It is one of the objective questions from the 2021 Neco Financial Accounting examination.
Difficulty level: Medium .
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