\(\begin{array}{c|c} & \text{N} \\ \hline \text{Balance as per cashbook} & 5 467 \\ \hline \text{Uncredited...
FINANCIAL
JAMB 2017
\(\begin{array}{c|c} & \text{N} \\ \hline \text{Balance as per cashbook} & 5 467 \\ \hline \text{Uncredited cheques} & 4 410 \\ \hline \text{Unpresented cheques} & 19 404 \\ \hline \text{Cheques wrongly debited by bank} & 1 404 \end{array}\)
The balance as per bank statement is
- A. #21,901
- B. #19,021
- C. #21,109
- D. #21,091
Correct Answer: A. #21,901
Explanation
Bank reconciliation statement helps to reconcile the cashbook and bank statement if there are disagreement. A is correct: 21,901 is correct because the cheque wrongly debited by the bank will have increase the bank balance therefore to get the value of the bank statement needed to first of all add back the cashbook
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