GCE Accounting 2023 Objective — Question 41
Question 41 of 50 from the General Certificate of Education (GCE) Accounting 2023 Objective paper, with the correct answer and a full explanation.
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The following transactions were recorded in the cash book of Ibusah for the month of February 2019: Balance b/f D200,000; Commission received D180,000; Receipts from Ojah D98,300; Electricity bill D40,000; Rent D73,400; Drawings D28,600; Insurance D12,800. The total income for the month is (a) D306,900 (b) D278,300 (c) D180,000 (d) D154,800
- A. D306,900
- B. D278,300Correct
- C. D180,000
- D. D154,800
Explanation
Total income = Commission received + Receipts from Ojah = 180,000 + 98,300 = D278,300.
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