Home For AAT student members AQ 2016 Professional Diploma in Accounting Cash and Treasury Management
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Assessment 1 - Task 1 c

Hi, can someone please explain how the answer for this is 76. I have tried and tried to crack this with no luck! Grateful for any advise. thank you :)


Comments

  • hal978hal978 LondonMAAT, AAT Licensed Accountant Posts: 187
    It would be 71 plus an increase in prepayment of 5 (14 minus 9).
  • LewisScarrLewisScarr AAT Student, AATQB Posts: 11
    I take away the closing prepayment from period 3 £-9 (as this has been paid in period 3) then add the expense of £71 and the closing prepayment (this is cash which is physically paid out in period 4) £14 to get £76
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