where was opening balance figure 1st q

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Felt exam went really well<BR>but was confused with first question, where did you get the opening balance figure for debtors control in order to find sales figure??<BR><BR>anyone??<BR><BR>Chris B

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    where was opening balance figure 1st q

    It was a new business so there was no opening balance. They listen the closing balance in the data, this plus payments form debtors (shown on the bank account) gave the sales value
  • System
    System Posts: 100,534 🤖 Admin 🤖
    where was opening balance figure 1st q

    Agree with Tango
  • System
    System Posts: 100,534 🤖 Admin 🤖
    where was opening balance figure 1st q

    The wearabouts of the opening balances got me at first but I soon realised I was being stupid!!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    where was opening balance figure 1st q

    oh thats Ok then, I got it right<BR><BR>thanks guys
  • System
    System Posts: 100,534 🤖 Admin 🤖
    where was opening balance figure 1st q

    I spent about 10 minutes searching for opening balances! In fact I was so certain there should b some I nearly put my hand up2demand a new paper ( thinking I was missing a page!) And then it dawned on me..........hehe!!

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