Neco 2022 Financial Accounting Question 8
Practice objective / multiple choice question 8 from the 2022 Neco Financial Accounting examination.
The cash book shows a balance of ₦85,000. The bank statement balance is ₦78,500. The following items are identified:\n- Deposits in transit: ₦4,200\n- Outstanding checks: ₦3,600\n- Bank service charges: ₦250\n- Interest earned: ₦120\n- The cash book contains an error: a payment was recorded ₦150 too high.\n- A cheque for an amount not recorded in the cash book has been issued.\nAfter adjusting for all items, what should be the corrected cash book balance? (State the amount in naira.)
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About This Question
This is Neco 2022 Financial Accounting Question 8. It is one of the objective questions from the 2022 Neco Financial Accounting examination.
Difficulty level: Medium .
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