Neco 2025 Financial Accounting Question 40
Practice objective / multiple choice question 40 from the 2025 Neco Financial Accounting examination.
A bank statement dated 31 December shows a balance of N150,000. The cash book balance as at the same date is N165,000. The following items need to be considered: - Deposits in transit: N12,000 (not yet reflected in the bank statement). - Outstanding checks: N8,000 and N5,000. - A cheque of N3,000 was recorded in the cash book but was returned unpaid (insufficient funds). - Bank service fee of N1,200 not yet recorded in the cash book. - The bank erroneously credited N2,500 to the account (belongs to another customer). What is the corrected cash book balance after reconciliation?
Answer Options
About This Question
This is Neco 2025 Financial Accounting Question 40. It is one of the objective questions from the 2025 Neco Financial Accounting examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.