Neco 2022 Financial Accounting Question 16
Practice objective / multiple choice question 16 from the 2022 Neco Financial Accounting examination.
During June, the cash book shows a debit balance of \(150,000\). The bank statement balance at 30 June is \(145,000\). The following items are identified:\n- Outstanding checks totalling \(8,700\).\n- Deposits in transit amounting to \(8,000\).\n- Bank service charges of \(1,200\) not yet recorded in the cash book.\n- A cheque issued for \(5,000\) was mistakenly entered in the cash book as \(500\).\nPrepare the bank reconciliation and state the corrected cash book balance after all adjustments.
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About This Question
This is Neco 2022 Financial Accounting Question 16. It is one of the objective questions from the 2022 Neco Financial Accounting examination.
Difficulty level: Medium .
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