WAEC Financial Accounting 1999 Question 13

Question 13

Cash Book

July 1 Cash in hand, N420, Cash at Bank N6,500
2 Paid Asaolu T. by cheque N1,500
5 Paid transport by Cash N42
9 Received cheque from Olawoyin N3,600
15 Cash sales to date N1,800
17 Paid Haruna by cheque N1,200
19 Paid Umana by cash N100
31 Paid wages by cash N1,500
The cash in hand on 31st July is

  1. A.N2,220
  2. B.N2,078
  3. C.N1,642
  4. D.N578.
Show the answer and explanation

Answer: D (N578.)

Explanation

Cash = 420 + 1,800 − 42 − 100 − 1,500 = N578.