At 31 December: Balance per bank statement 22,650; Uncleared deposits 3,110; Unpresented cheques 6,290; Bank credit recorded twice by bank in error 650. What is the cash book balance for the statement of financial position?

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SSC Financial and Cost Accounting P-1 QUESTION #6137

Question 1

At 31 December: Balance per bank statement $22,650; Uncleared deposits $3,110; Unpresented cheques $6,290; Bank credit recorded twice by bank in error $650. What is the cash book balance for the statement of financial position?

$18,820✔️
$20,120
$25,180
$26,480

Correct Answer Explanation

Option A ($18,820) is correct.

Bank statement balance: $22,650

+ Uncleared deposits: +$3,110

− Unpresented cheques: −$6,290

− Bank error (overstated credit): −$650

Cash book balance = $18,820

More Options