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

Question 36:

• JAMB 2012

Given:
Cash book balance- #5000
Dishonored cheque- #1000
Direct credit - # 800
Direct debit - # 500
The adjusted cash book balance is

A. #6,300
B. #4,300
C. #3,700
D. #2,700

Question 37:

• JAMB 2013

When the debit side total of an account, it means that the account has

A. Been overdrawn
B. Been understand
C. Debit balance
D. Credit balance

Question 38:

• JAMB 2014

An item credited in the bank statement but yet to be recorded in the firm's cash book is

A. Bank loan
B. Contract payment
C. Standing order
D. Direct deposit

Question 39:

• JAMB 2015

In a bank reconciliation statement, Dishonoured cheques is added to

A. Unpresented cheques
B. Uncredited cheques
C. Statement of account
D. Aggregate balanace as per cash book

Question 40:

• JAMB 2015

Which of the following is a debit entry in debtors control account?

A. Discount allowed
B. Return inwards
C. Credit sales
D. Cash from debtors