Neco 2024 Financial Accounting Question 15
Practice objective / multiple choice question 15 from the 2024 Neco Financial Accounting examination.
The cash book of ABC Ltd shows a balance of \u20a085,000. The bank statement balance at the same date is \u20a078,500. The following items are identified:\n- Outstanding checks total \u20a012,000.\n- Deposits in transit total \u20a05,500 (including a customer's cheque of \u20a02,300 not yet cleared).\n- The bank charged a service fee of \u20a0800 not yet recorded in the cash book.\n- The bank incorrectly credited the account with \u20a01,200.\nPrepare a bank reconciliation and state the corrected cash book balance after all adjustments.
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About This Question
This is Neco 2024 Financial Accounting Question 15. It is one of the objective questions from the 2024 Neco Financial Accounting examination.
Difficulty level: Medium .
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