Waec Model Questions Vol1 2023 Financial Accounting Question 33
Practice objective / multiple choice question 33 from the 2023 Waec Model Questions Vol1 Financial Accounting examination.
During a month a business had an opening cash balance of ₦80,000. It recorded cash sales of ₦300,000 and purchased machinery on credit costing ₦200,000, taking a 2 % cash discount by paying ₦196,000 within the month. The business also paid wages of ₦120,000 and rent of ₦50,000 in cash. What is the closing cash balance at the end of the month?
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About This Question
This is Waec Model Questions Vol1 2023 Financial Accounting Question 33. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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