Neco Model Questions Vol1 2018 Financial Accounting Question 4
Practice objective / multiple choice question 4 from the 2018 Neco Model Questions Vol1 Financial Accounting examination.
The cash book shows a closing balance of \(\₦850,000\). The bank statement shows a closing balance of \(\₦820,000\). The following items are identified:\n- Outstanding checks: \(\₦45,000\)\n- Deposits in transit: \(\₦30,000\)\n- Bank service charge: \(\₦2,500\) (not yet recorded in the cash book)\n- Interest earned: \(\₦1,800\) (not yet recorded in the cash book)\n- A cheque of \(\₦44,300\) was recorded in the cash book but was omitted from the bank statement.\nPrepare the bank reconciliation and state the adjusted cash book balance.
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About This Question
This is Neco Model Questions Vol1 2018 Financial Accounting Question 4. It is one of the objective questions from the 2018 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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