Neco Model Questions Vol1 2025 Financial Accounting Question 37
Practice objective / multiple choice question 37 from the 2025 Neco Model Questions Vol1 Financial Accounting examination.
The cash book of XYZ Ltd shows a closing balance of \(\text{₦}158,000\). The bank statement for the same date shows a balance of \(\text{₦}150,000\). The following items are identified: outstanding checks totalling \(\text{₦}12,000\), deposits in transit of \(\text{₦}5,000\), a bank service charge of \(\text{₦}800\) not yet recorded in the cash book, and a customer's cheque returned for insufficient funds of \(\text{₦}2,500\) also not recorded. After making all necessary adjustments, what should be the balance shown in the cash book?
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About This Question
This is Neco Model Questions Vol1 2025 Financial Accounting Question 37. It is one of the objective questions from the 2025 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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