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Huxley is a retailer whose sales are all on cash terms. During 2016 his bank account shows cash banked of $47650, which included $220 form his own private funds. Huxley estimates that he drew about $150 per month from the till to cover private living expenses, and he also paid casual wages of $20 per week in cash.
sir the answer was
47650+1800+1040+260 -310-220=50220
i just want to know why this private fund of 220 is deducted?THE question was
if the cash in till amounted to $310 on january 2006 and $260 on 31st december 2006 wat was the huxleys sales figure for the year
The answer is calculated the cash received from sales.
The cash banked of 47,650 is not all received from customers because it includes 220 of the owners own money that he has paid into the businesses bank account. Therefore the 220 needs subtracting to find out how much of the cash came from customers.
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