Neco Model Questions Vol1 2019 Financial Accounting Question 37
Practice objective / multiple choice question 37 from the 2019 Neco Model Questions Vol1 Financial Accounting examination.
The cash account of ABC Ltd. shows the following transactions for the month (all amounts in Naira).\n\n- Opening cash balance: 40,000\n- Cash received from customers: cash sales plus collections from credit sales (see below)\n- Cash paid to suppliers: \(\_\)\n- Cash paid for salaries: 30,000\n- Cash paid for rent: 15,000\n- Cash received from bank loan: 100,000\n- Cash paid for purchase of equipment: 50,000\n- Closing cash balance shown in the trial balance: 65,000\n\nDuring the month the company made total sales of 200,000 Naira, of which 80 % were on credit. Of the credit sales, 50 % were collected in cash during the month.\n\nFind the amount paid to suppliers.
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About This Question
This is Neco Model Questions Vol1 2019 Financial Accounting Question 37. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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