In a cash book, the opening balance was N7,600, closing balance N9,200 and the total cash received during the period was N18,000. What was the amount of cash paid out during the period?

  • A N8,900
  • B N9,800
  • C N14,600
  • D N16,400
jamb 1999accounting

The correct answer is D. N16,400

The amount of cash paid out during the period can be calculated by adding the opening balance to the total cash received, and then subtracting the closing balance.

Let’s calculate:

Opening balance = N7,600 Total cash received = N18,000 Closing balance = N9,200

Cash paid out = (Opening balance + Total cash received) - Closing balance

Cash paid out= (N7,600 + N18,000) - N9,200 = N16,400

So, the correct answer is D. N16,400. 

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