Neco Model Questions Vol1 2019 Financial Accounting Question 5
Practice objective / multiple choice question 5 from the 2019 Neco Model Questions Vol1 Financial Accounting examination.
The cash book of ABC Ltd shows a balance of \(\text{₦}260,000\). The bank statement balance is \(\text{₦}250,000\). The following items are identified:\n\n- Outstanding checks: \(\text{₦}3,000\)\n- Deposits in transit: \(\text{₦}8,000\)\n- Bank error: the bank charged the company \(\text{₦}1,500\) that belongs to another customer\n- A customer's cheque of \(\text{₦}2,000\) was dishonoured and had already been recorded in the cash book\n\nPrepare the bank reconciliation and state the adjusted cash book balance.
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About This Question
This is Neco Model Questions Vol1 2019 Financial Accounting Question 5. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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