Given that the balance as per cash book after adjustment was ₦6315, nu-presented cheques ₦1000 and the bank statement balance ₦3240. What was the balance of...
Question 1 Report
Given that the balance as per cash book after adjustment was ₦6315, nu-presented cheques ₦1000 and the bank statement balance ₦3240. What was the balance of the nu-credited cheques?
Answer Details
To calculate the balance of the uncredited cheques, we need to start with the balance as per the cash book after adjustment, which is ₦6315. We then need to add the value of the unpresented cheques, which is ₦1000. This gives us a total of ₦7315.
Next, we need to compare this total to the balance on the bank statement, which is ₦3240. Since the cash book balance is higher than the bank statement balance, we know that there are some cheques that have been issued but have not yet been credited to the account.
To find out the value of the uncredited cheques, we can subtract the bank statement balance from the total cash book balance, which gives us ₦7315 - ₦3240 = ₦4075.
Therefore, the balance of the uncredited cheques is ₦4075.
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