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JAMB Principles of Accounts 1997 Question 13

Question 13

Banking and Bank Reconciliation

An examination of the cash book on 3rd August 1993 showed a different balance from the bank statement of 31st July 1993 which read ₦722. Uncredited cheques were Bimpe ₦40; Wale ₦60 while unpresented cheques were; Usman ₦20, Kalu ₦32 and Musa ₦70. What is the cash book balance after the reconciliation?

  1. A.₦700
  2. B.₦770
  3. C.₦800
  4. D.₦822.
Show the answer and explanation

Answer: A (₦700)

Explanation

Cash book = bank 722 + uncredited 100 − unpresented 122 = ₦700.