Waec Model Questions Vol1 2020 Financial Accounting Question 37
Practice objective / multiple choice question 37 from the 2020 Waec Model Questions Vol1 Financial Accounting examination.
The Cash ledger of a trading business shows an opening debit balance of ₦120,000. The following cash transactions were posted during the month:\n1. Cash received from sales: ₦250,000.\n2. Cash paid for rent: ₦45,000.\n3. Cash paid for equipment: ₦80,000.\n4. Cash received from a loan repayment: ₦30,000.\nA cash sale of ₦15,000 was inadvertently omitted from the ledger. What is the correct closing cash balance at month‑end?
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About This Question
This is Waec Model Questions Vol1 2020 Financial Accounting Question 37. It is one of the objective questions from the 2020 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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