Waec Model Questions Vol1 2024 Financial Accounting Question 45
Practice objective / multiple choice question 45 from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
The cash book of a business shows a cash balance of ₦18,500. The bank statement balance is ₦20,000. The following reconciling items are known: - Outstanding checks: ₦2,300 (affects bank statement only). - Deposits in transit: ₦1,200 (affects bank statement only). - Bank charges not yet recorded in the cash book: ₦150. - A note receivable collected by the bank for ₦800, not yet recorded in the cash book. - A payment of ₦1,250 was mistakenly recorded as ₦1,520 in the cash book. Determine the corrected cash book balance after adjusting for all items and correcting the recording error.
Answer Options
About This Question
This is Waec Model Questions Vol1 2024 Financial Accounting Question 45. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.