WAEC - Accounts Principles Of Accounts (2019 - No. 12)
Use the following information to answer the question below
April 11: Sold goods for cash N50,000
April 20: Bought goods for cash N30,000
April 26: Bought postage stamp N5,000
April 28: Cash sales N49,000
April 29: Cash purchases N11,000
April 30: Paid salaries N18,000
The cash balance at the end of the period is
N99,000
N64,000
N35,000
N34,000
Explanation
cash balance = cash sales - expenses
99,000 - (30,000 + 5,000 + 11,000 + 18,000)
99,000 - 64,000 = 35,000
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