WAEC - Accounts Principles Of Accounts (2023 - No. 5)
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 balance brought down at the end of the month is
D 278,300
D 154,800
D 478,300
D 323,500
Explanation
Balance Brought Down = Opening Balance + Income - (Expenses + Drawings)
Balance Brought Down = (D200,000 + D180,000 + D98,000) - (D40,000 + D73,400 + D28,600 + D12,800)
= 478,000 - 154,800
Balance Brought Down = (D200,000 + D180,000 + D98,000) - (D40,000 + D73,400 + D28,600 + D12,800)
= 478,000 - 154,800
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