Neco Model Questions Vol1 2025 Financial Accounting Question 42
Practice objective / multiple choice question 42 from the 2025 Neco Model Questions Vol1 Financial Accounting examination.
At 31 December, the cash book of ABC Ltd shows a balance of \(150,000\). The bank statement for the same date shows a balance of \(158,800\). The following items are identified: - Outstanding checks amounting to \(10,000\). - Deposits in transit amounting to \(6,000\). - Bank service charges of \(1,200\) not yet recorded in the cash book. - A note receivable of \(8,000\) collected by the bank but not yet recorded in the cash book. - The bank incorrectly omitted a credit of \(2,000\) in the statement. After performing the bank reconciliation, what should be the corrected cash book balance?
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About This Question
This is Neco Model Questions Vol1 2025 Financial Accounting Question 42. It is one of the objective questions from the 2025 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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