Neco Model Questions Vol1 2022 Financial Accounting Question 37
Practice objective / multiple choice question 37 from the 2022 Neco Model Questions Vol1 Financial Accounting examination.
The cash book of a company shows a balance of \(\text{₦}151,420\). The bank statement balance at the same date is \(\text{₦}150,000\). The following items are known:\n\n- Deposits in transit: \(\text{₦}5,200\)\n- Outstanding checks: \(\text{₦}3,800\)\n- Bank service charges (not yet recorded in the cash book): \(\text{₦}120\)\n- Interest earned (not yet recorded in the cash book): \(\text{₦}250\)\n- A cheque was recorded in the cash book as \(\text{₦}2,500\) but the actual amount was \(\text{₦}2,350\).\n\nAfter performing a bank reconciliation, what should be the adjusted cash book balance (in Naira)?
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About This Question
This is Neco Model Questions Vol1 2022 Financial Accounting Question 37. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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