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Use the following information to answer the question The following transactions were recorded in the...

Accounts - Principles of Accounts
JAMB 2025

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

The balance brought down at the end of the month is

  • A. D 306,900
  • B. D 278,000
  • C. D 154,800
  • D. D 478,300
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Correct Answer: Option B
Explanation

Balance Brought Down = Opening Balance + Income(Expenses + Drawings)

Balance Brought Down = (D 200,000 + D 180, 000 + D 98, 000) - (D 40,000 + D 73, 000 + D 28,600 + D 12, 800)

 = D 478, 000 - D 154, 8000 = D 323, 200


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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
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