Neco 2022 Financial Accounting Question 33
Practice objective / multiple choice question 33 from the 2022 Neco Financial Accounting examination.
The cash book balance at month‑end is \(\text{₦}45,000\). The bank statement shows a closing balance of \(\text{₦}48,500\). Outstanding checks total \(\text{₦}3,200\) and deposits in transit total \(\text{₦}2,500\). The bank has charged service fees of \(\text{₦}150\) and a customer's cheque of \(\text{₦}1,200\) was returned unpaid; neither has been recorded in the cash book. The bank also credited interest of \(\text{₦}4,150\) that is not yet in the cash book. Prepare the bank reconciliation and state the corrected cash book balance.
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About This Question
This is Neco 2022 Financial Accounting Question 33. It is one of the objective questions from the 2022 Neco Financial Accounting examination.
Difficulty level: Medium .
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