Neco 2022 Financial Accounting Question 25
Practice objective / multiple choice question 25 from the 2022 Neco Financial Accounting examination.
The cash book shows a bank balance of \(85,000\) as at 31 March. The bank statement for the same date shows a closing balance of \(78,000\). The following items explain the differences:\n\nDeposits in transit at 31 March: \(12,000\) (recorded in cash book but not yet on bank statement)\nOutstanding checks: \(9,000\) (recorded in cash book but not cleared)\nBank charges: \(1,200\) (deducted by bank, not yet recorded in cash book)\nInterest earned: \(800\) (credited by bank, not yet recorded in cash book)\nA bank error credited the company's account with \(4,000\).\nCompute the corrected cash book balance after all adjustments.
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About This Question
This is Neco 2022 Financial Accounting Question 25. It is one of the objective questions from the 2022 Neco Financial Accounting examination.
Difficulty level: Medium .
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