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JAMB Principles of Accounts 2008 Question 14

Question 14

Banking and Bank Reconciliation

Given that the balance as per cash book after adjustment was N6315, unpresented cheques N1000 and the bank statement balance N3240. What was the balance of the uncredited cheques?

  1. A.N4075
  2. B.N4240
  3. C.N3315
  4. D.N3075
Show the answer and explanation

Answer: A (N4075)

Explanation

Bank statement = adjusted cash book + unpresented cheques − uncredited cheques: 3 240 = 6 315 + 1 000 − x, so x = ₦4 075.