FSTP Sample Assesment Task 1 (c)

Please help with this question , it relates to finding opening balance of the cash book.



  • rakeshsuwalrakeshsuwal LondonPosts: 79Registered
    As the question is talking about cash book, you will have to look any money transaction. So we have opening balance on Bank in the main question as 1327(Dr) Plus (receipts) 200100 less (payments) 205158= negative 3732 so will be Credit.
  • stephlo06stephlo06 Posts: 1Registered
    How is this so as the question asks you to find the cashbook balance but the opening balance it gives of 1327 is for the bank, why would you use the opening balance for the bank for the cashbook? Also why would the 4800 banked from cash sales not be included in the cashbook as going out to the bank?
  • Jules18Jules18 Settling In Nicely Posts: 102Registered, Tutor
    Hi Steph

    If you look at the breakdown of the receipts and payments recorded in the bank account you will see they equal the summary figures ie 187300 + 4800 + 8000 = 200100.
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