Accounting Questions and Answers

Balance as per cashbook 2, 970
Bank Charges 220
Unpresented cheques 3,950
Uncredited cheques 4,178
Direct debit by bank 10,000

Determine the balance as per bank statement.

\(\begin{array}{c|c} & Halima & Ibinabo \\ & N & N \\ \hline \text{Capital accounts 1st Jan, 1992} & 100,000 & 50,000 \\ \text{Current accounts 1st Jan, 1992} & 20,000 & 40,000 \\ \text{Drawing during the year} & 10,000 & 15,000 \\ \text{Annual salaries} & 14,000 & 12,000\end{array}\)

Interest on capital is 10%. The net profit for the year is N60,000. The interest on Halima's capital is

The Current account above had some errors in the arrangement of the accounts for Musa, Kalu and Lawal]

The correct closing balance for lawal's current account is

The Current account above had some errors in the arrangement of the accounts for Musa, Kalu and Lawal

The Correct closing balance for Musa's current account is

What is the balance carried down?