Cash Book, Bank Transactions and Reconciliation Statements Generix Content - Cash Book, Bank Transactions and Reconciliation Statements
"Cash Book, Bank Transactions and Reconciliation Statements" question number distribution across years
Search "Cash Book, Bank Transactions and Reconciliation Statements" on the following sites online
Financial Accounting index on skoool nigeria

JAMB questions for "Financial Accounting :: Cash Book, Bank Transactions and Reconciliation Statements"
Q1
If the float is increased to &#8358;1 200, how much should the petty cashier receive after period 2?
A
&#8358;160
B
&#8358;840
C
&#8358;1 000
D
&#8358;1 040
E
Q2
What is the balance of cash with the petty cashier at the end of period 1?
A
&#8358;220
B
&#8358;780
C
&#8358;980
D
&#8358;1 780
E
Q3
Cash discount is often recorded on
A
the debit side of the cash book
B
the credit side of the cash book
C
the folio column of the cash book
D
both credit and debit side of the cash book
E
Q4
The standing order is a payment instruction given by a
A
customer to the bank
B
bank to the customers
C
bank to an employee
D
customer to a fellow customer
E
Q5
Which of the following should not be added or subtracted from the bank statement balance to determine the adjusted cash balance?
A
Error by the bank
B
Undercasting of the cash book
C
Overcasting of the cash book
D
Bank service charges
E
Q6
Calculate the balance as per bank statement at the end of the year
A
&#8358;24 700
B
&#8358;25 200
C
&#8358;26 200
D
&#8358;27 700
E
Q7
Receipts and payments account is a summary of the
A
budget
B
C
cash book
D
profit and loss account
E
Q8
Bariga, a stock broker stationery for &#8358;12 000 by cash. To record this transaction, debit
A
cash and credit stationery
B
purchases and credit stationery
C
stationery and credit cash
D
stationery and credit purchases
E
Q9
Find the bank balance
A
&#8358;71 250 credit
B
&#8358;71 250 debit
C
&#8358;95 000 credit
D
&#8358;95 000 debit
E
Q10
An entry made in the bank in the column of the cash book to record movement of cash between the office and bank is the
A
real entry
B
special entry
C
direct entry
D
contra entry
E
Q11
Abba offered 5% cash discount on goods worth &#8358;10 000. The discount allowed account is to be
A
debited with &#8358;10 000
B
credited with &#8358;10 000
C
debited with &#8358;500
D
credited with &#8358;500
E
Q12
Commission-on-turnover is charged on
A
current accounts only
B
savings accounts only
C
fixed deposit accounts only
D
all bank accounts
E
Q13
The medium that enables the ATM to read the account details and process transactions directly with the account held in the bank is the
A
smart card
B
communication network
C
magnetic strip
D
computerized account
E
Q14
Given that the balance as per cash book after adjustment was &#8358;6 315, unpresented cheques &#8358;1 000 and the bank statement balance &#8358;3 240. What was the balance of the uncredited cheques?
A
&#8358;4 075
B
&#8358;4 240
C
&#8358;3 315
D
&#8358;3 075
E
Q15
What is the amount withdrawn?
A
&#8358;9 525
B
&#8358;9 000
C
&#8358;7 100
D
&#8358;6 400
E
Q16
Determine the closing balance of the cash book
A
&#8358;655 credit
B
&#8358;655 debit
C
&#8358;130 credit
D
&#8358;130 debit
E
Q17
Journal proper is used in recording
A
transactions that are not regular
B
returns from customers
C
credit sales
D
the receipts and payment of money
E
Q18
The process whereby a cheque received by one person is given to another for payment is known as
A
cheque crossing
B
payment in cheque
C
cheque transfer
D
cheque endorsement
E
Q19
Calculate the balance in the bank statement
A
&#8358;10,740
B
&#8358;11,860
C
&#8358;17,500
D
&#8358;16,380
E
Q20
What is the adjusted cash bank balance?
A
&#8358;14,680
B
&#8358;15,560
C
&#8358;16,440
D
&#8358;17,000
E
Q21
If cheques of &#8358;40,000 were received but a cheque of &#8358;8,000 was dishonoured, the amount owed was
A
&#8358;9,000
B
&#8358;20,000
C
&#8358;1,000
D
&#8358;17,000
E
Q22
Fatima withdraws goods from the business for personal use. The accounting treatment is to debit
A
stock account and credit profit and loss account
B
drawings account and credit stock account
C
profit and loss account and credit drawings account
D
stock and credit drawings account
E
Q23
The rate of the yearly depreciation expense would be
A
50%
B
40%
C
30%
D
20%
E
Q24
The use of a three-colum cash book is determine by
A
cash discounts
B
C
cash transactions
D
bank transactions
E
Q25
X represents
A
bank charges
B
an unpresented cheque
C
dividends
D
an uncredited cheque
E
Q26
What was the bank balance at the end of the month?
A
7000
B
6500
C
7500
D
9000
E
Q27
Adaobi mistakenly entered &#8358;7,000 as credit sales in Abba's account instead of Baba's account. This is
A
an error of principles
B
a compensating error
C
an error of commission
D
an error of omission
E
Q28
What is the cash balance on the debit side if it is the only item omitted?
A
&#8358;6,745
B
&#8358;6,754
C
&#8358;6,475
D
&#8358;6,574
E
Q29
The amount of the loan is
A
&#8358;1,000
B
&#8358;2,100
C
&#8358;900
D
&#8358;1,200
E
Q30
How much is the total receipts of the club?
A
&#8358;563440
B
&#8358;687,940
C
&#8358;363,440
D
&#8358;524,500
E
Q31
From the data above, calculate the returns on equity
A
33%
B
35%
C
20%
D
30%
E
Q32
Goods withdrawn from business for private use are credited to
A
sales
B
capital
C
purchases
D
drawings
E
Q33
Yahya's bank account shows a credit balance of &#8358;1500000. He paid &#8358;1700000 into the bank. What is his expected balance? What is his expected balance?
A
debit balance of &#8358;3200000
B
credit balance of &#8358;3200000
C
credit balance of &#8358;200000
D
debit balance of &#8358;200000
E
Q34
What was the balance of cash with the petty cashier at the end of period 1?
A
&#8358;200
B
&#8358;450
C
&#8358;50
D
&#8358;300
E
Q35
How much should the petty cashier received after period 2?
A
&#8358;350
B
&#8358;500
C
&#8358;150
D
&#8358;250
E
Q36
Mr. Bassey purchased a motor vehicle for use in his business and debited the purchases account with the same value. This is an error of
A
principle
B
omission
C
original entry
D
commission
E
Q37
In a three-column cash book, the discount allowed is shown on the
A
credit side
B
memorandum column
C
debit side
D
folio column
E
Q38
The recipient whose name appears on a cheque is called
A
payee
B
drawee
C
drawer
D
payer
E
Q39
The cash book closing balance will be
A
&#8358;2,400
B
&#8358;900
C
&#8358;4,600
D
&#8358;4,200
E
Q40
The amount withdrawn is
A
&#8358;4,400
B
&#8358;6,400
C
&#8358;2,100
D
&#8358;2,200
E
Q41
The imprest account is subsidiary to the
A
petty cash
B
cash book
C
bank account
D
ledger account
E
Q42
The three-column cash book differs from the two-column cash book in
A
bank column
B
folio column
C
discount column
D
cash column
E
Q43
Which of the following is used to update the cash book in bank reconciliation?
A
B
Commission and debit note
C
Unpresented cheques and direct credit
D
E
Q44
The credit sales for the period would be
A
&#8358;5,000
B
&#8358;1,900
C
&#8358;1,000
D
&#8358;950
E
Q45
The transaction would be recorded in the cash book as debit
A
cash and credit bank
B
bank and credit cash
C
cash and credit cash
D
bank and credit bank
E
Q46
Receipts and payments account is the summary of
A
income and expenditure
B
cash book
C
balance sheet
D
profit and loss
E
Q47
The normal accounting entry to record the dishonour of a cheque by a businessman is to
A
debit cash book and credit suspense account
B
debit cash book and credit drawer
C
credit cash book and debit suspense account
D
credit cash book and debit drawer
E
Q48
What is cash balance?
A
&#8358;12,590
B
&#8358;12,950
C
&#8358;12,095
D
&#8358;12,905
E
Q49
In a petty cash book, the closing balance was 235, imprest 1250, while the stationary expenses were 655. How much was paid for other general expenses?
A
&#8358;305
B
&#8358;350
C
&#8358;355
D
&#8358;360
E
Q50
Given that the balance as per cash book after necessary adjustments was &#8358;4315, unpresented cheques were &#8358;1688 and the bank statement balance was 4791, what was the balance of the uncredited cheques?
A
&#8358;1,115
B
&#8358;1,202
C
&#8358;1,212
D
&#8358;1,223
E
Q51
A cash book had opening balance of &#8358;15,200 closing balance &#8358;18,400 and total cash received during the period &#8358;36000. What was the amount of cash paid out during the same period?
A
&#8358;29,200
B
&#8358;17,800
C
&#8358;32,800
D
&#8358;19,600
E
Q52
When a bill is negotiated to a bank, it is said to be
A
accepted
B
discounted
C
surrendered
D
cashed
E
Q53
On Novermber 1. 1998, Zaria Holdings owned &#8358;13 600 in respect of a creditor. On Novermber 15, it purchased goods worth &#8358;69000 and paid a cheque of &#8358;51 600. On November 29, one of the Holdings' as at November 29 is
A
&#8358;32 500
B
&#8358;32 000
C
&#8358;31 000
D
&#8358;29 500
E
Q54
To write off bad debt, debit
A
debtor's account and credit provision for bad debt
B
bad debt account and credit debtor's account
C
debtor's account and credit bad debt
D
provision for bad debt account and credit debtor's account
E
Q55
In order to make the cash book balance equal to the bank statement, it is usual to add
A
uncredited cheques
B
direct payments by bank
C
bank charhges
D
unpresented cheques
E
Q56
A source document that aids the ascertainment of amount paid out of a current account is the
A
teller
B
cheque stub
C
cheque
D
teller stub
E
Q57
The most convenient cash book used by a petty trader operating in an area where there is no banking faculty is
A
four column
B
three column
C
single column
D
two column
E
Q58
An expenses account is closed by a debit to
A
an asset account and credit to the expenses account
B
the expense account and a credit to an asset account
C
profit and loss account and credit to the expense account
D
the expense account and a credit to profit and loss account
E
Q59
A source document for the sales day book is
A
requisition form
B
an invoice
C
D