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         ₦ Balance as per cash book      5467 Uncredited cheques...

Accounts - Principles of Accounts
JAMB 2023

 

       ₦

Balance as per cash book

     5467

Uncredited cheques

     4410

Unpresented cheques    

    19404

The balance as per bank statement is

  • A. ₦20,461
  • B. ₦21,091
  • C. ₦21,109
  • D. ₦19,021
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Correct Answer: Option A
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 ₦5467 + ₦19404 - ₦4410 = ₦20,461. 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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