Accounts (Principles of Accounts)Bank reconciliation statementsWAEC
The cash book shows a debit bank balance of ₦45,000. Unpresented cheques total ₦8,000 and uncredited lodgements ₦5,000. What balance should the bank statement show?
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Answer: C. ₦48,000
45,000 + 8,000 − 5,000 = ₦48,000: the bank has not yet paid out the cheques or received the lodgements.
An AdmitMe practice question, written for the WAEC syllabus. Not an official past question.