Waec Model Questions Vol1 2024 Financial Accounting Question 32
Practice objective / multiple choice question 32 from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
The following transactions occurred during the month: 1. Opening balances: Cash ₦200,000 (Dr), Capital ₦200,000 (Cr). 2. Purchased inventory on credit for ₦120,000. 3. Sold goods for cash ₦180,000; cost of goods sold was ₦100,000. 4. Paid rent cash ₦20,000. 5. Received cash from a debtor ₦50,000 on account. What is the closing balance of the Cash account at the end of the month?
Answer Options
About This Question
This is Waec Model Questions Vol1 2024 Financial Accounting Question 32. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.