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

Question 26:

• JAMB 2009

Which of the should not be added or subtracted from the bank statement balance to determine the adjust cash balance?

A. Error by the bank
B. Undercasting of the cash book
C. Overcasting of the cash book
D. Bank service charges

Question 27:

• JAMB 2009

Given:
Balance as per cash book...................N20,000
Unpresented cheques........................N5, 200
Direct credit to the bank..................N1, 000
Direct debit from the bank.................N1, 000
Credit in the cash book....................N500
Calculate the balance as per bank statement at the end of the year?

A. N24,700
B. N25,200
C. N26,200
D. N27,700

Question 28:

• JAMB 2010

A major cause of discrepancy between bank statement and the cash book that overstates the bank statement balance is the?

A. Commission paid
B. Interest received
C. Direct payment
D. Direct withdrawal

Question 29:

• JAMB 2010

The bank charges levied on a current account holder is the charge on?

A. Transaction
B. Turnover
C. Transfer
D. Cash received

Question 30:

• JAMB 2010

The course of discrepancies between the bank statement and the cash book that overstates the cash book is the?

A. Dividend received
B. Uncredited expenses
C. Uncredited cheques
D. Interest on lodgement