Use the following information to answer ...
Use the following information to answer the question given
\(\begin{array}{c|c} \text{Jan. 1} & \text{₦}\\ \hline \text{1/1/08 Capital introduced by cash} & 50,000 \\ \text{2/1/08 Bought goods for retail by cash} & 10,000\\ \text{3/1/08 Sold fixtures by cash} & 5,000\\ \text{4/1/08 Sold goods to Lagbaja on credit} & 3,000\\ \text{5/1/08 Bought goods on credit from Tamedu}& 8,000\end{array}\)
Cash balance at 5/1/08 is
₦50,000
₦40,000
₦45,000
₦30,000
Correct answer is C
The amount of money in an account. It is calculated by adding the initial deposit to all subsequent deposits and then subtracting all disbursements.
capital introduced 50000
purchase 10000
sales 5000
Bal c/d 45000
55000 55000
cash balance = 45000
Uncredited cheques refer to cheques not yet credited ...
The quality of output information depends on the ...
Interest on a partner's drawings is debited to the ...
The payee of a cheque is the ...
In a control account, provision for bad debts is found on the ...
\(\begin{array}{c|c} & N \\ \hline \text{Fixed assets} & 12,000 \\ \text{Current assets} &am...
Which of the following is a fictitious asset? ...
Trading account for the year ended 31st December 2009 ₦ ₦ Opening...
Which of the following is not true of revenue expenditure? i. It is incurred in one period of...