A sole trader has GH₵ 100 cash in hand and bank balance of GH₵ 2,400 at the beginning of the accounting period. The closing balances for cash in hand and bank were GH₵ 150 and GH₵ 5,200 respectively. Cash receipts from debtors and payments to suppliers during the year amounted to GH₵ 51,700 and GH₵ 38,200 respectively. She also paid GH₵ 3,400 to employees. How much drawings did she made during the year?

A sole trader has GH₵ 100 cash in hand and bank balance of GH₵ 2,400 at the beginning of the accounting period. The closing balances for cash in hand and bank were GH₵ 150 and GH₵ 5,200 respectively. Cash receipts from debtors and payments to suppliers during the year amounted to GH₵ 51,700 and GH₵ 38,200 respectively. She also paid GH₵ 3,400 to employees. How much drawings did she made during the year?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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