JAMB - Accounts Principles Of Accounts (2016 - No. 27)
Opening balance of Diks company was #12,202, closing balance #15,300, total cash received during the period #40,000. What was the amount of cash paid during the same period?
#36,902
#27,502
#12,498
#43,098
Explanation
opening balance = 12,202 + cash recieved = 40,000 = 52,202
less closing balance
= 52,202 - 15,300 = 36902 (Amount spent during the period)
less closing balance
= 52,202 - 15,300 = 36902 (Amount spent during the period)
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