Neco Model Questions Vol1 2018 Financial Accounting Question 11
Practice objective / multiple choice question 11 from the 2018 Neco Model Questions Vol1 Financial Accounting examination.
A company's bank statement shows a balance of \(\N150,000\). The cash book balance is \(\N158,000\). The following items are identified during reconciliation:\n- Outstanding checks: three checks totalling \(\N12,000\).\n- Deposits in transit: two deposits, one of \(\N5,000\) and the total of deposits in transit is \(\N9,000\).\n- Bank service charge of \(\N500\) appears on the statement but not in the cash book.\n- A customer's cheque of \(\N3,000\) was returned unpaid and is recorded in the cash book but not yet cleared by the bank.\nCalculate the adjusted cash book balance after all these items are taken into account.
Answer Options
About This Question
This is Neco Model Questions Vol1 2018 Financial Accounting Question 11. It is one of the objective questions from the 2018 Neco Model Questions Vol1 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.