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Sandands Co uses a computer package to maintain its accounting records. A printout of its cash book for the month of May 2013 was extracted on 31 May and is summarised below
Balance bd 546
Receipts 6293
Payments 5966
Bal c/d 873The company’s chief accountant provides you with the following information Bank charges of $630 shown on the bank statement have not been entered in the company’s cash book
standing orders entered on the bank statement have not been recorded in the company’s cash book a subscription for trade journals of $52, an insurance premium of $360 and a business rates payment of $2,172
A cheque drawn by Sandilands Co for 693 and presented to the bank on 26 May has been incorrectly entered in the cash book as 936 $
incorrectly entered in the cash book as $936,
After correcting the errors above , what is the revised balance on the cash back
A $ 2098 credit
$2.584 DEBIT
$3.868 CREDIT
$3.382 CREDIT
Balance as per cashbook
Why is balcd 873 considered and not bal bd 546
546-630-52-360-2172+243 =-2425 is this correctWhy are you attempting a question for which you do not have an answer? You should be using a Revision Kit from one of the ACCA Approved Publishers – they have answers and explanations.
546 is the balance at the start of the period. 873 is the balance at the end of the period.
So it is 873 that needs adjusting to correct for the errors.
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Sir this question is from bpp
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Thank u so much sir for clarification
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