JAMB Accounting 2009 Objective — Question 14

Question 14 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2009 Objective paper, with the correct answer and a full explanation.

14. Balance as per cash book #20,000; Unpresented cheques #5,200; Direct credit to the bank #1,000; Direct debit from bank #1,000; Credit in the cash book #500. Calculate the balance as per bank statement at the end of the year.

A. #24,700Correct
B. #25,200
C. #26,200
D. #27,700

Explanation

20,000 + 5,200 (unpresented cheques) + 1,000 (direct credit) = 26,200; less 1,000 (direct debit) + 500 (credit in cash book) = 1,500; 26,200 - 1,500 = #24,700.

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