Use the following information to answer the question The following transactions were recorded in the...
FINANCIAL
WAEC 2023
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 |
- A. D 278,000
- B. D 180,000
- C. D 154,800
- D. D 306,900
Correct Answer: A. D 278,000
Explanation
To calculate the total income for the month, we add up the commission received:
Total Income = Commission received + Receipts
Total Income = D180,000 + D 98,000 = D 278,000
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