- 1 Marks
FA – Nov 2020 – L1 – SA – Q20 – Bank Reconciliation
Determines the correct overdraft position after reconciling bank errors.
Question
Bode’s cash book showed he had an overdraft of N20,300. A bank reconciliation, however, indicated that a standing order payment of N3,650 had been entered in the cash book twice, and that a returned customer’s cheque for N2,750 had been debited in the cash account.
What is Bode’s true overdraft position?
A. N12,150
B. N18,450
C. N19,400
D. N21,200
E. N22,150
Find Related Questions by Tags, levels, etc.
- Tags: Bank Reconciliation, Error Correction, Overdraft Position
- Level: Level 1
- Topic: Bank reconciliations
- Series: NOV 2020
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