Neco 2024 Financial Accounting Question 43
Practice objective / multiple choice question 43 from the 2024 Neco Financial Accounting examination.
The company's cash book balance as at 30 June is ₦500,000. The bank statement for the same date shows a closing balance of ₦520,000. The following items need to be considered:\n- Deposits in transit: ₦15,000\n- Outstanding checks: ₦8,000 and ₦12,000\n- Bank service charge not yet recorded in the cash book: ₦2,500\n- A cheque of ₦20,000 deposited by the company was returned unpaid (NSF) and the bank deducted it from the statement balance, but the company has not yet recorded it.\n- The bank incorrectly credited the company's account with ₦5,000 belonging to another customer.\nCalculate the corrected cash book balance after all adjustments.
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About This Question
This is Neco 2024 Financial Accounting Question 43. It is one of the objective questions from the 2024 Neco Financial Accounting examination.
Difficulty level: Medium .
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