Waec Model Questions Vol1 2024 Financial Accounting Question 39
Practice objective / multiple choice question 39 from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
The cash book of XYZ Ltd shows a balance of ₦85,000 as at 30 June. The bank statement for the same date shows a balance of ₦78,500. The following items are identified: (i) outstanding checks totalling ₦2,000; (ii) deposits in transit of ₦6,500; (iii) a bank service fee of ₦500 not yet recorded in the cash book; (iv) a customer's cheque of ₦2,200 returned NSF and not yet recorded; (v) the bank erroneously credited the account with ₦700 that belongs to another customer. Prepare the bank reconciliation and state the corrected cash book balance after all adjustments.
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About This Question
This is Waec Model Questions Vol1 2024 Financial Accounting Question 39. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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