WAEC Financial Accounting 2019 Question 12

Question 12

Cash Book

Use the following information to answer questions 11 and 12.
April 11: Sold goods for cash ₦50,000
April 20: Bought goods for cash ₦30,000
April 26: Bought postage stamp ₦5,000
April 28: Cash sales ₦49,000
April 29: Cash purchases ₦11,000
April 30: Paid salaries ₦18,000
The cash balance at the end of the period is

  1. A.₦99,000.
  2. B.₦64,000.
  3. C.₦35,000.
  4. D.₦34,000.
Show the answer and explanation

Answer: C (₦35,000.)

Explanation

Receipts 99,000 − payments (30,000 + 5,000 + 11,000 + 18,000 = 64,000) = ₦35,000.