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closing cash

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › closing cash

  • This topic has 1 reply, 2 voices, and was last updated 12 years ago by danielglover.
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  • January 11, 2013 at 8:26 am #111896
    isab
    Member
    • Topics: 5
    • Replies: 0
    • ☆

    Can anyone answer this f3 question :
    All Jinn ‘s sales are cash sales. During the year he made sales of $ 45,780 and banked $ 38,175.
    He paid sundry expenses in cash of $ 2,200 and wages of $ 4,560 in cash. His opening cash was $ 365.

    What is his closing cash figure?

    January 15, 2013 at 11:39 am #113635
    danielglover
    Member
    • Topics: 13
    • Replies: 100
    • ☆☆

    Easy! Easy!

    Opening 365 (assuming it’s a debit balance)

    Add:
    Sales 45780

    Less:
    Banked 38175
    Sundry expenses 2200
    Wages 4560

    Closing 1210

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