N Balance as per cash book 5467 Uncredited cheques 4410 Unpresented cheques 19404 The balance
FINANCIAL
JAMB 2023
N | |
Balance as per cash book | 5467 |
Uncredited cheques | 4410 |
Unpresented cheques | 19404 |
The balance as per bank statement is
- A. N20,461
- B. N21,091
- C. N21,109
- D. N19,021
Correct Answer: A. N20,461
Explanation
The balance as per bank statement is calculated by adding the balance as per cash book and the unpresented cheques then subtracting the uncredited cheques. Therefore, the balance as per bank statement is N5467 + N19404 - N4410 = N20,461. Unpresented cheques are cheques that have been issued by a company but have not yet cleared through the bank. Uncredited cheques are cheques that have been received by a company but have not yet cleared through the bank.
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