JAMB Accounts Principles of Accounts 2018 Paper

Concept:Bank reconciliation adjusts the cash book balance to find the true bank statement balance using timing and bank-related differences.Explanation:Start with the balance as per cash book: $₦13,560$.Add unpresented cheques and dividend received: $₦5,120 + ₦2,000 = ₦7,120$.Adjusted total: $₦13,560 + ₦7,120 = ₦20,680$.Subtract uncredited cheque, bank charges, and standing order: $₦2,300 + ₦280 + ₦600 = ₦3,180$.Balance as per bank statement: $₦20,680 - ₦3,180 = ₦17,500$.Answer:D. ₦17,500