Post Utme Rsu 2024 Accounting Question 36

A company uses the double-entry system of accounting. The following transactions occurred during the year: 1. Purchased office equipment for ₦120,000. 2. Sold goods for ₦150,000. 3. Paid salaries of ₦80,000. 4. Purchased raw materials for ₦60,000. 5. Sold raw materials for ₦40,000. 6. Paid rent of ₦20,000. 7. Purchased goods for ₦100,000. 8. Sold goods for ₦120,000. 9. Paid dividends of ₦30,000. 10. Purchased goods for ₦80,000. 11. Sold goods for ₦60,000. 12. Paid salaries of ₦40,000. 13. Purchased office equipment for ₦60,000. 14. Sold goods for ₦80,000. 15. Paid rent of ₦20,000. Determine the net change in cash for the year.