A cash book had opening balance of ₦15,200 closing balance ₦18,400 and total cash received during the period ₦36,000. What was the amount of cash paid out d...

A cash book had opening balance of ₦15,200 closing balance ₦18,400 and total cash received during the period ₦36,000. What was the amount of cash paid out during the same period?

Answer Details

To solve this problem, we need to use the basic accounting equation: Opening balance + Total cash received - Total cash paid out = Closing balance We know that the opening balance was ₦15,200, the closing balance was ₦18,400, and the total cash received was ₦36,000. We can rearrange the equation to solve for the total cash paid out: Total cash paid out = Opening balance + Total cash received - Closing balance Total cash paid out = ₦15,200 + ₦36,000 - ₦18,400 Total cash paid out = ₦32,800 Therefore, the amount of cash paid out during the period was ₦32,800.