Use the following information to answer the question below April 11: Sold goods for cash N50,000 April 20: Bought goods for cash N30,000 April 26: Bought po...

Use the following information to answer the question below

April 11: Sold goods for cash N50,000 
April 20: Bought goods for cash N30,000
April 26: Bought postage stamp N5,000 
April 28: Cash sales N49,000
April 29: Cash purchases N11,000
April 30: Paid salaries N18,000

The cash balance at the end of the period is

Answer Details

To determine the cash balance at the end of the period, we need to add up all the cash inflows and subtract all the cash outflows. Starting with the cash inflows: - Cash sales on April 11: N50,000 - Cash sales on April 28: N49,000 Total cash inflows: N99,000 Moving on to the cash outflows: - Bought goods for cash on April 20: N30,000 - Bought postage stamp for cash on April 26: N5,000 - Cash purchases on April 29: N11,000 - Paid salaries on April 30: N18,000 Total cash outflows: N64,000 To determine the cash balance, we subtract the total cash outflows from the total cash inflows: Cash balance = Total cash inflows - Total cash outflows Cash balance = N99,000 - N64,000 Cash balance = N35,000 Therefore, the cash balance at the end of the period is N35,000.