Bank Transactions and Reconciliation Statements - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 51:

• JAMB 2018

Use the information below to answer the question.
Calculate the balance in the bank statement.

	₦
Balance as per cashbook	13560
Unpresented cheques	5120
Dividend received	2000
Uncredited cheque	2300
Bank charges	280
Standing order	600
Balance as per bank statement	?

A. ₦10,740
B. ₦11,860
C. ₦16,380
D. ₦17,500

Question 52:

• JAMB 2018

when a bill is negotiated to a bank , it is said to be?

A. Accepted
B. Discounted
C. Surrendered
D. Cashed

Question 53:

• JAMB 2018

In order to make the cash book balance equal to the bank statement, it is usually to add?

A. Uncredited cheques
B. Direct payments by bank
C. Bank charged
D. Unpresented cheques

Question 54:

• JAMB 2019

The importance of bank statement is all except

A. Verifies the accuracy of balances of cash book and cheque book
B. Helps to detect and rectify any error
C. Helps to debit an account
D. Helps to update the cash book