Neco 2025 Financial Accounting Question 1
Practice objective / multiple choice question 1 from the 2025 Neco Financial Accounting examination.
The cash book balance as at 31 December is \(150,000\) naira. The bank statement balance for the same date is \(158,500\) naira. Outstanding checks total \(12,000\) naira and deposits in transit total \(5,500\) naira. The bank charged a service fee of \(800\) naira which the cash book has not recorded. In addition, the bank incorrectly credited a customer's cheque of unknown amount, causing the statement balance to be overstated. After preparing the bank reconciliation, the adjusted cash book balance equals the adjusted bank balance. Determine the amount of the incorrectly credited cheque.
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About This Question
This is Neco 2025 Financial Accounting Question 1. It is one of the objective questions from the 2025 Neco Financial Accounting examination.
Difficulty level: Medium .
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