WAEC - Accounts Principles Of Accounts (2023 - No. 4)
Use the following information to answer the question
The following transactions were recorded in the cash book of Ibusah for the month of February 2019:
| D | |
|
Balance b/f |
200,000 |
| Commission received | 180,000 |
| Receipts from Ojah | 98,000 |
| Electricity bill | 40,000 |
|
Rent |
73,400 |
| Drawings | 28,600 |
| Insurance | 12,800 |
The total income for the month is
D 278,000
D 180,000
D 154,800
D 306,900
Explanation
To calculate the total income for the month, we add up the commission received:
Total Income = Commission received + Receipt
Total Income = D180,000 + D 98,000
= D 278,000
Total Income = Commission received + Receipt
Total Income = D180,000 + D 98,000
= D 278,000
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