Neco 2023 Financial Accounting Question 22
Practice objective / multiple choice question 22 from the 2023 Neco Financial Accounting examination.
At the end of March, a company's bank statement shows a balance of ₦5,750,000, while its cash book balance is ₦5,620,000. The following items are identified: Deposits in transit: ₦120,000; Outstanding checks: ₦85,000; Bank service charge: ₦2,500 (deducted by the bank but not yet recorded); Interest earned: ₦1,800 (added by the bank but not yet recorded); A cash‑book error: a cheque of ₦45,000 was mistakenly recorded as ₦54,000. What is the corrected cash‑book balance after incorporating all adjustments?
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About This Question
This is Neco 2023 Financial Accounting Question 22. It is one of the objective questions from the 2023 Neco Financial Accounting examination.
Difficulty level: Medium .
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