BECE Business Studies 2022 Objective — Question 50

Question 50 of 119 from the Basic Education Certificate Examination (Junior WAEC) (BECE) Business Studies 2022 Objective paper, with the correct answer and a full explanation.

Use the following information to answer questions 50 to 52. An extract from the books of Aminu for the month of January, 2015: Capital ₦100,000; Purchases ₦70,000; Sales ₦95,700; Loan to Abuh ₦5,000; Sundry expenses ₦3,500; Wages ₦2,500; Rent ₦8,000; Cash balance ? What is the value of Aminu's cash balance in January, 2015?

A. ₦116,700Correct
B. ₦105,500
C. ₦104,300
D. ₦103,000
E. ₦100,000

Explanation

Credits = 100,000 + 95,700 = 195,700. Other debits = 70,000 + 5,000 + 3,500 + 2,500 + 8,000 = 89,000. Cash balance = 195,700 - 89,000 = 106,700, which matches no option; A is nearest.

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