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

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

AllJAMBWAEC
All topicsAccounting concepts and conventions · 35Accounts of not-for-profit organisations · 29Accruals, prepayments and provisions · 34Bank reconciliation statements · 31Branch and departmental accounts · 29Company accounts · 33Control accounts · 30Depreciation of non-current assets · 34Double entry and the ledger · 38Final accounts of a sole trader · 39Incomplete records · 31Manufacturing accounts · 29Nature and purpose of accounting · 29Partnership accounts · 34Petty cash and the imprest system · 26Public sector accounting · 30Source documents and books of original entry · 30The cash book and discounts · 33The trial balance and errors · 35

  1. Question 21· Bank reconciliation statements· JAMB

    Which of these items causes the bank statement balance to be higher than the cash book balance?

    Explanation and discussion

  2. Question 22· Bank reconciliation statements· JAMB

    A standing order payment shown on the bank statement but not in the cash book should be

    Explanation and discussion

  3. Question 23· Bank reconciliation statements· JAMB

    Bank statement balance ₦45,000; unpresented cheques ₦9,000; uncredited deposits ₦5,000. The adjusted cash book balance is

    Explanation and discussion

  4. Question 24· Bank reconciliation statements· JAMB

    The bank statement shows ₦60,000 in hand. Unpresented cheques total ₦15,000 and uncredited lodgements ₦9,000. What should the cash book show?

    Explanation and discussion

  5. Question 25· Bank reconciliation statements· WAEC

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

    Explanation and discussion

  6. Question 26· Bank reconciliation statements· WAEC

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

    Explanation and discussion

  7. Question 27· 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

  8. Question 28· Bank reconciliation statements· JAMB

    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?

    Explanation and discussion

  9. Question 29· Bank reconciliation statements· WAEC

    A dishonoured cheque from a customer is recorded by

    Explanation and discussion

  10. Question 30· Bank reconciliation statements· JAMB

    Uncredited lodgements are

    Explanation and discussion

  11. Question 31· Bank reconciliation statements· WAEC

    Interest credited by the bank should be

    Explanation and discussion

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