December 2004 Exam help!
System
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Hi,
Am doing this past paper and am confused by the answer to Task 1.1. I have put my bank figure down as £2695 but the answers have it as £2310 and I have no idea why. Driving myself insane trying to figure it out lol.
Any help would be appreciated
mi|kshake~
Am doing this past paper and am confused by the answer to Task 1.1. I have put my bank figure down as £2695 but the answers have it as £2310 and I have no idea why. Driving myself insane trying to figure it out lol.
Any help would be appreciated
mi|kshake~
0
Comments
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Re:December 2004 Exam help!
Hi, I will try my best to help....
The question asked about capital as at Sep '03. The cash and bank summary was for yr ended Sep '04. So the bank figure needed to answer this question was the balance b/d - which would have been the closing figure as at Sep '03 and this was £2310 (bank) and £560 (cash).
Hope this helps
Carole0 -
Re:December 2004 Exam help!
Sorry, still confused. My cash and bank summary @ 2004 lists the b/f bals as:
Cash: £560
Bank: £2695
mi|kshake~0 -
Re:December 2004 Exam help!
Hmm.. this is a bit odd. There must be an error in the paper you have - try checking that the bank figures add up right. I have the same balances b/d as Carole and the balances c/d I have are 400 (cash) and 10, 705 (bank).
Chris0 -
Re:December 2004 Exam help!
Thanks for your help!!
I checked the addition, the summary in my book was:
Cash Bank
Bal b/d 560 2695
Sales 17400 32000
Bank 10000
Total 27960 34310
The bank column didn't add! Think I'll be checking the summaries from now on, unless you were expected to check the addition. But I re-read the question and can't see anything to show that you would have to check.
mi|kshake~0 -
Re:December 2004 Exam help!
Just a misprint in the copy of the paper that you had then. Let's hope that doesn't happen in the real exam!
Chris0