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WAEC Accounts (Principles of Accounts) questions: Bank reconciliation statements

16 questions with answers and explanations. Tap an option to check yourself.

AllJAMBWAEC
All topicsAccounting concepts and conventions · 17Accounts of not-for-profit organisations · 14Accruals, prepayments and provisions · 17Bank reconciliation statements · 16Branch and departmental accounts · 16Company accounts · 15Control accounts · 15Depreciation of non-current assets · 17Double entry and the ledger · 19Final accounts of a sole trader · 19Incomplete records · 15Manufacturing accounts · 14Nature and purpose of accounting · 14Partnership accounts · 15Petty cash and the imprest system · 14Public sector accounting · 14Source documents and books of original entry · 14The cash book and discounts · 16The trial balance and errors · 16

  1. Question 1· Bank reconciliation statements· WAEC

    Cheques issued but not yet presented to the bank are

    Explanation and discussion

  2. Question 2· Bank reconciliation statements· WAEC

    A dividend received directly by the bank on behalf of the business should be

    Explanation and discussion

  3. Question 3· Bank reconciliation statements· WAEC

    Bank charges shown on the bank statement but not in the cash book should be

    Explanation and discussion

  4. Question 4· Bank reconciliation statements· WAEC

    A cheque received from a customer that the bank refuses to pay is a

    Explanation and discussion

  5. Question 5· Bank reconciliation statements· WAEC

    The cash book shows a debit balance of ₦9,000. Unpresented cheques are ₦2,000. Ignoring other items, the bank statement balance is

    Explanation and discussion

  6. Question 6· Bank reconciliation statements· WAEC

    Cheques paid in but not yet credited by the bank are

    Explanation and discussion

  7. Question 7· Bank reconciliation statements· WAEC

    A standing order paid by the bank but not in the cash book should be

    Explanation and discussion

  8. Question 8· Bank reconciliation statements· WAEC

    Bank charges shown only on the bank statement are corrected by

    Explanation and discussion

  9. Question 9· Bank reconciliation statements· WAEC

    A bank reconciliation statement explains the difference between the

    Explanation and discussion

  10. Question 10· Bank reconciliation statements· WAEC

    A customer's cheque that is dishonoured is recorded in the cash book by

    Explanation and discussion

  11. Question 11· Bank reconciliation statements· WAEC

    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?

    Explanation and discussion

  12. Question 12· Bank reconciliation statements· WAEC

    Cheques paid into the bank but not yet shown on the bank statement are called

    Explanation and discussion

  13. Question 13· Bank reconciliation statements· WAEC

    A dividend received by direct credit, shown only on the bank statement, should be

    Explanation and discussion

  14. Question 14· Bank reconciliation statements· WAEC

    Cash book balance ₦30,000 (debit). Unpresented cheques ₦6,000. Uncredited lodgements ₦4,000. The bank statement balance is

    Explanation and discussion

  15. Question 15· Bank reconciliation statements· WAEC

    A dishonoured cheque from a customer is recorded by

    Explanation and discussion

  16. Question 16· Bank reconciliation statements· WAEC

    Interest credited by the bank should be

    Explanation and discussion

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