JAMB Accounting 2016 Objective — Question 16

Question 16 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2016 Objective paper, with the correct answer and a full explanation.

16. Opening balance of Dika's company was #12,202, closing balance #15,300, total cash received during the period #40,000. What was the amount of cash paid during the same period (a) #36,902 (b) #12,498 (c) #43,098 (d) #27,502

A. #36,902Correct
B. #12,498
C. #43,098
D. #27,502

Explanation

Cash book: Bal b/d 12,202 + 40,000 = 52,202; Payments 36,902; Bal c/d 15,300; 52,202-15,300=36,902.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Accounting 2016 Objective More Accounting past papers