Neco Model Questions Vol1 2023 Financial Accounting Question 39
Practice objective / multiple choice question 39 from the 2023 Neco Model Questions Vol1 Financial Accounting examination.
On 31 March 2023, the cash book of XYZ Ltd. shows a balance of \(\text{₦}85,000\). The bank statement for the same date shows a balance of \(\text{₦}78,500\). The following items are identified: (i) a cheque of \(\text{₦}4,200\) issued by the company but not yet presented to the bank; (ii) a deposit of \(\text{₦}3,600\) made on 30 March but not reflected in the bank statement; (iii) a bank service charge of \(\text{₦}150\) that appears on the bank statement but has not been recorded in the cash book; (iv) a note receivable collected by the bank for \(\text{₦}2,500\), which is recorded in the bank statement but not in the cash book. What is the corrected cash book balance after reconciliation?
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About This Question
This is Neco Model Questions Vol1 2023 Financial Accounting Question 39. It is one of the objective questions from the 2023 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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