Neco Model Questions Vol1 2022 Financial Accounting Question 50
Practice objective / multiple choice question 50 from the 2022 Neco Model Questions Vol1 Financial Accounting examination.
The cash book of a firm shows an opening cash balance of ₦15,000. During the month the following transactions were recorded: Receipts - cash sales ₦40,000 and loan received ₦20,000; Payments - rent ₦12,000, salaries ₦18,000 and purchase of supplies ₦5,000. The bank statement at month‑end indicates unpresented cheques totalling ₦7,000 and deposits in transit of ₦3,000. What is the adjusted cash balance after reconciling the cash book with the bank statement?
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About This Question
This is Neco Model Questions Vol1 2022 Financial Accounting Question 50. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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