Question on: JAMB Accounting - 2016
Balance as per cashbook 2, 970
Bank Charges 220
Unpresented cheques 3, 950
Uncredited cheques 4, 178
Direct debit by bank 1, 0000
Determine the balance as per bank statement.
Bank Charges 220
Unpresented cheques 3, 950
Uncredited cheques 4, 178
Direct debit by bank 1, 0000
Determine the balance as per bank statement.
A
# 1,978
B
# 1962
C
# 1,522
D
# 2,522
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Correct Option: D
Here's how to calculate the balance as per the bank statement, starting with the cash book balance:
1. **Start with the Cash Book Balance:** \#2,970
2. **Adjust for Items affecting the Bank Statement:**
* **Add Uncredited Cheques:** These are cheques deposited by the company but not yet processed by the bank. They increase the bank balance. + \#4,178
* **Deduct Unpresented Cheques:** These are cheques issued by the company but not yet cashed. They decrease the bank balance. - \#3,950
* **Deduct Bank Charges:** Bank charges are already deducted by the bank and need to be removed from the balance. - \#220
*
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