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:
| D | |
|
Balance b/f |
200,000 |
| Commission received | 180,000 |
| Receipts from Ojah | 98,000 |
|
Electricity bill |
40,000 |
|
Rent |
73,400 |
| Drawings |
28,600 |
| Insurance | 12,800 |
The total expenses for the month is
D 278,300
D 323,500
D 478,300
D 154,800
Correct answer is D
Total Expenses = Electricity bill + Rent + Drawings + Insurance
Total Expenses = D40,000 + D73,400 + D28,600 + D12,800
Total Expenses = D154,800
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:
| D | |
|
Balance b/f |
200,000 |
| Commission received | 180,000 |
| Receipts from Ojah | 98,000 |
| Electricity bill | 40,000 |
|
Rent |
73,400 |
|
Drawings |
28,600 |
| Insurance | 12,800 |
The balance brought down at the end of the month is
D 278,300
D 154,800
D 478,300
D 323,500
Correct answer is D
Balance Brought Down = Opening Balance + Income - (Expenses + Drawings)
Balance Brought Down = (D200,000 + D180,000 + D98,000) - (D40,000 + D73,400 + D28,600 + D12,800)
= 478,000 - 154,800
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:
| D | |
|
Balance b/f |
200,000 |
| Commission received | 180,000 |
| Receipts from Ojah | 98,000 |
| Electricity bill | 40,000 |
|
Rent |
73,400 |
| Drawings | 28,600 |
| Insurance | 12,800 |
The total income for the month is
D 278,000
D 180,000
D 154,800
D 306,900
Correct answer is A
To calculate the total income for the month, we add up the commission received:
Total Income = Commission received + Receipt
Total Income = D180,000 + D 98,000
= D 278,000
The document issued by a revenue collector as evidence of payment to a government ministry is a
Receipt voucher card
Stores receipt voucher
Treasury receipt
Payment voucher
Correct answer is A
Receipt voucher are document used to acknowledge the receipt of public revenue.
The following appears in the trading account except
Carriage inward
Opening stock
Carriage outward
Sales
Correct answer is C
Carriage outward is an expenses and it does not appear in the trading account but appears in the profit and loss account.