Post Utme Greenfield University 2020 Accounting Question 16

Practice objective / multiple choice question 16 from the 2020 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2020 Accounting Objective / Multiple Choice
Question 16 POST_UTME_GREENFIELD_UNIVERSITY • 2020 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The following transactions were recorded in the cash book during the year: Deposits: ₦10,000 on January 1 ₦5,000 on March 15 ₦8,000 on June 10 ₦12,000 on September 1 Withdrawals: ₦6,000 on February 20 ₦9,000 on May 15 ₦11,000 on August 10 ₦14,000 on November 1 Calculate the balance in the cash account at December 31.

Answer Options

A. ₦25,000
Correct Answer B. ₦30,000
C. ₦35,000
D. ₦40,000
Correct Answer
B
Correct Option:
₦30,000

About This Question

This is Post Utme Greenfield University 2020 Accounting Question 16. It is one of the objective questions from the 2020 Post Utme Greenfield University Accounting examination.

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