Question 41
Banking and Bank ReconciliationBalance as per cash book ₦13 560
Unpresented cheques ₦5 120
Uncredited lodgements ₦2 300
Dividend received not entered in the cash book ₦2 000
Bank charges ₦280
Standing order payments ₦600
Balance as per bank statement ₦?
Calculate the balance in the bank statement.
- A.₦10 740
- B.₦11 860
- C.₦17 500
- D.₦16 380.
Show the answer and explanation
Answer: C (₦17 500)
Explanation
Adjusted cash book = ₦14 680. Bank statement = 14 680 + 5 120 unpresented − 2 300 uncredited = ₦17 500.