HELP - how to work out discounts when the figure is missing

tracey4
tracey4 Registered Posts: 2 New contributor ?
Hi

can anyone help me with this, I'm needing to know who to work out discounts allowed and received when the figure is missing from the accounts records all together?

Tracey

Comments

  • A-Vic
    A-Vic Registered Posts: 6,970
    You start with drawing a t-account put in any opening balance then closing balance then any payments and sales then the balancing figure will be the missing figure i hope this helps

    Or someone else can explane it better
  • tracey4
    tracey4 Registered Posts: 2 New contributor ?
    Hi

    that's great thank you, I've tried your above answer and I still get a figure that I think is way out.

    If you wouldn't mind having a look at below and telling me where I'm going wrong?

    I have:

    receipts from debtors - £39,100
    opening balance - £60,300
    closing balance - £75,600
    sales for the year - £80,000

    the total I get is way too high to be the dicount total!!
  • A-Vic
    A-Vic Registered Posts: 6,970
    Hi tracie i will attach how i worked it out
  • A-Vic
    A-Vic Registered Posts: 6,970
    wont upload but here

    Opening blance 60,300
    Add Sales 80,000
    Take Off P 39,100
    Missing Figure
    Closing Blance 75600


    I have discounts at 25,600
  • A-Vic
    A-Vic Registered Posts: 6,970
    I have a head full of figures at the min so if anyone gets anything else please add
  • OlympicRudi
    OlympicRudi Registered Posts: 55 ? ? ?
    A-Vic wrote: »
    I have a head full of figures at the min so if anyone gets anything else please add

    I got £25,600 too :)
  • dobbieobby
    dobbieobby Registered Posts: 231 ? ? ?
    Me too :-)
  • Toffeemadblue
    Toffeemadblue Registered Posts: 102 ? ? ?
    Given the OP's figure the answer is £25,600, however this is way too high as the OP said. It would mean that this discount percentage would be about 40% of the original invoice (25600/(39100+25600), so the figures may be wrong or another figure is involved sales returns for instance.
    Cheers
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