Waec Model Questions Vol1 2021 Financial Accounting Question 18
Practice objective / multiple choice question 18 from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
The cash book for the month shows an opening cash balance of ₦15,000. The following cash receipts were recorded: cash sales ₦28,400; loan received ₦12,500; interest received ₦800; and a cash discount received on a purchase of ₦1,500 at 5%. Cash payments were: rent ₦9,600; utilities ₦2,350; cash purchase of inventory ₦14,750; and owner's withdrawal ₦3,200. Determine the closing cash balance at the end of the month.
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About This Question
This is Waec Model Questions Vol1 2021 Financial Accounting Question 18. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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