Neco 2023 Financial Accounting Question 10

The cash book for April shows opening balances of cash \( \text{₦}5,000\) and bank \( \text{₦}20,000\). Transactions during the month are:\n\nReceipts - cash sales \( \text{₦}12,000\); bank receipt from a customer \( \text{₦}8,000\); loan received (bank) \( \text{₦}5,000\).\n\nPayments - cash purchase of supplies \( \text{₦}3,000\); bank rent payment \( \text{₦}4,000\); cash dividend paid \( \text{₦}2,000\); bank equipment payment \( \text{₦}6,000\); a bank cheque of \( \text{₦}1,500\) issued but later dishonoured (returned on 30 April).\n\nAt month‑end the bank statement shows an unpresented cheque of \( \text{₦}2,000\) and a deposit in transit of \( \text{₦}3,000\). Compute the closing cash balance, the closing bank balance after accounting for the dishonoured cheque, and the adjusted bank balance after reconciling the unpresented cheque and deposit in transit. Also give the total cash position (cash plus adjusted bank).