Waec Model Questions Vol1 2024 Commerce Question 40

A company's cash book shows a closing balance of ₦85,000. The bank statement dated 31 March shows a balance of ₦78,500. The following items are noted: 1. A cheque of ₦4,200 issued by the company was returned unpaid (bounced) and is not yet recorded in the cash book. 2. A deposit of ₦6,500 made on 28 March is not reflected in the bank statement. 3. Bank charges of ₦350 appear on the bank statement but are not recorded in the cash book. 4. A customer's cheque of ₦5,800 was deposited on 30 March but cleared the bank on 2 April, after the statement date. Prepare the corrected cash book balance after adjusting for all items, and state the adjusted bank balance that should appear in the bank reconciliation statement.