Accounts (Principles of Accounts)Bank reconciliation statementsJAMB
On 30 June the cash book of Musa Traders showed a debit balance of ₦84,000. The following were discovered: 1. Cheques issued but not yet presented: ₦15,000 2. Cheques paid in but not yet credited by the bank: ₦9,000 3. Bank charges not entered in the cash book: ₦1,200 4. A dividend of ₦7,000 received directly by the bank, not entered in the cash book
What balance should the bank statement show?
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Answer: C. ₦95,800
Adjusted cash book 89,800 + unpresented cheques 15,000 − uncredited lodgements 9,000 = ₦95,800.
An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.