Neco Model Questions Vol1 2017 Financial Accounting Question 15
Practice objective / multiple choice question 15 from the 2017 Neco Model Questions Vol1 Financial Accounting examination.
The bank statement for ABC Co shows a closing balance of \(850,000\) as at 31 March. The cash book balance is \(820,000\). The following reconciling items are identified:\n\n- Deposits in transit: \(5,800\)\n- Outstanding checks: \(30,000\)\n- Bank service fee not recorded in the cash book: \(5,000\)\n- A customer's cheque was recorded in the cash book as \(1,200\) instead of the correct amount \(12,000\).\n\nWhat is the corrected cash book balance after incorporating all adjustments?
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About This Question
This is Neco Model Questions Vol1 2017 Financial Accounting Question 15. It is one of the objective questions from the 2017 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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