aat practice test

hi, i have done the test, and i stuck on two questions, i attempted it but got it wrong, i've done part (a)
Question (a)
details------Discounts--cash--Bank--vat--trade-payables--cash-purchases
balance b/f-----------------------2312------------------------------------
mendip----------------- 378---------63------------------------315-------
landa----------50------------1950----------1950---------------------
bebe and co----38------------726-----------726----------------------
Total ---------88------378--4988--63------2676 -----------315-------

(b) the debit side of thee cashbook shows the cash balance brought forward at the beginning of the week was £200 and further £319 has been received during the week

using your answer from (a), calculate the cash balances

the answer is 141 but i don't know how?!?!

the debit side of the cashbook shows the total amount of money bank during the week £1964
(c) using your answers in (a) calculate the bank balance. if your calculations shows that the bank balance is overdrawn, your answer should start with a minus

answer -3024

how??


also

date ------details-----------Amount| date---details---------amount
1 june-----balance b/f--------1926 | 3 june--credit note 101- 185
25 june----sales invoice 387---314 | 4 june--bank---------- 1741
28 june----sales invoice 391---987 | 21 june-credit note 110--224
29 june----sales invoice 393---1422 |----------------------------

the cheque from B COHEN for 1512 has resulted as underpayment/overpayment
this probably relates to balance b/f/ sales invoice 387/ s inv 391/ s inv 393/ credit note 101/ c not 110
in order to resolve the problem gold should request another cheque/ request another credit note/request another invoice
from B COHEN for £... ( i done 987) which will clear outstanding balances

Thanks

Comments

  • DDOROURKE123DDOROURKE123 Registered Posts: 62
    its really hard to show you the table.

    Discounts
    50
    38
    total 88

    cash
    378
    total 378

    bank
    2312
    1950
    726
    total 4988

    vat
    63
    total 63

    trade payable
    1950
    726
    total 2676

    cash purchases
    315
    total 315

    that's it separated hopefully you can see what i was trying to do with the table

    sorry
  • Adele69Adele69 CambridgeAAT Student Posts: 313
    edited December 2014
    In Task 3 b) you have Cash Receipts of £200 + £319 = £519, these will be on the left side of the Cash Book, so debit (or Money In) and from your table Cash Payments a subtotal of £378. Therefore 519 - 378 = £141

    and in 3 c) Bank Receipts of £1964 - Bank Payments of £4988 = (£3024)

    Cash balance will always be in debit figure so if you are in any doubt which way around to do the sum it will only work one way; whereas you can have a Bank balance with a debit or credit (overdraft).

    In Task 8 I also added the two columns, and with the Cheque payment £987 was remaining which is what was in the answer, an underpayment requiring further payment of 987

    Hope this helps
  • BradleyClaridgeBradleyClaridge Registered Posts: 30
    Hi, I also struggled with this question as well.
    It's not the clearest of questions I must admit.

    I'm currently studying AAT Level 4! as part of my Finance Apprenticeship
  • DDOROURKE123DDOROURKE123 Registered Posts: 62
    BradleyClaridge I figured it out, part b its says the debit side of the cashbook brought forward £200 and the received £319

    to get the cash balance you just go to the cash section in the table and minus the debit and credit

    519 (debit) - 378 (credit) = total balance of 141

    same again for part c

    thanks Adele69 for helping
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