Gce Model Questions Vol1 2022 Financial Accounting Question 19
Practice objective / multiple choice question 19 from the 2022 Gce Model Questions Vol1 Financial Accounting examination.
The following journal entries were posted in April 2022. Opening cash balance on 1 April was \(\text{₦}4,000\). (1) 5 Apr - Cash sales \(\text{₦}12,000\); Cost of goods sold \(\text{₦}7,200\). (2) 12 Apr - Purchased inventory on credit \(\text{₦}5,000\) and paid freight \(\text{₦}200\) in cash. (3) 20 Apr - Paid cash to settle part of accounts payable \(\text{₦}3,000\). Determine the cash balance at 30 April after posting all entries.
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About This Question
This is Gce Model Questions Vol1 2022 Financial Accounting Question 19. It is one of the objective questions from the 2022 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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