JakeRJakeR BromsgroveRegistered Posts: 10
Hi Guys

How do you get to the answer for the following question

On 1 July 20X2 a sole traders bank account showed an overdraft of £662. During the year ended 30 June 20X3 deposits into
the account totaled £50122 and withdrawals from the account were £48116. The closing balance is?

I got the answer to be £1344 in credit but when i try to do a T account to make sure it is correct it is carried down on the credit side which means it is overdrawn.

Can someone explain how to solve it.


  • KoopaCooperKoopaCooper London, UKMAAT, AATQB Posts: 162
    edited November 2015
    OK, I'm not sure if I'll be able to do this in a text post, but I'll try to do a T-account here, hope it works...the table borders aren't working properly, hope it's ok. :)
    30 June 20X3 Deposits £50122|1 July 20X2 Bal b/d £662
    |30 June 20X3 Withdrawals £48116
    |30 June 20X3 Bal c/d £1344
    Total £50122|Total £50122
    1 July 20X3 Bal b/d £1344|
    Accounts Senior, ғɪᴀʙ ᴍᴀᴀᴛ

    Level 2 - 17 Jun 2015
    Level 3 - 22 Jan 2016
    Level 4 - 19 Dec 2017
    MAAT - 27 Mar 2018

  • JakeRJakeR BromsgroveRegistered Posts: 10
    oh ok i was not extending the account after i just saw that it finished on the credit side so i was getting a bit confused. That clears it up. Thanks
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