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JAMB Principles of Accounts 2001 Question 12

Question 12

Banking and Bank Reconciliation

Given that the balance as per cash book after necessary adjustments was ₦4,315, unpresented cheques were ₦1,688 and the bank statement balance was ₦4,791, what was the balance of the uncredited cheques?

  1. A.₦1,223
  2. B.₦1,212
  3. C.₦1,202
  4. D.₦1,115.
Show the answer and explanation

Answer: B (₦1,212)

Explanation

Bank balance = cash book + unpresented − uncredited: 4,791 = 4,315 + 1,688 − x, so x = ₦1,212.