Comprehensive Syllabus Notes w/ Case Studies for EVERY syllabus point!!! (1 Viewer)

[osak23]

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for WESTA multiple choice q5
how do we calculate closing balance without 'purchases'!!!

 

[mitchellwright8]

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for WESTA multiple choice q5
how do we calculate closing balance without 'purchases'!!!

Cash Balance = Opening Balance + Inflows - Outflows

The end cash balance in January will be the starting cash balance in February. Assume the business starts with a cash balance of $0.

Every time I've done that particular question, I've got $5000, and can't for the life of me figure out how the answer (according to the marking guidelines) is $8000.

 

[Examine]

Cash Balance = Opening Balance + Inflows - Outflows

The end cash balance in January will be the starting cash balance in February. Assume the business starts with a cash balance of $0.

Every time I've done that particular question, I've got $5000, and can't for the life of me figure out how the answer (according to the marking guidelines) is $8000.

I got $7000, dunno where that $8000 came from.

 

[Newbit]

http://www.boardofstudies.nsw.edu.au/syllabus_hsc/pdf_doc/2012-business-studies-specimen-paper.pdf

Could someone explain to me how to do question 9 of the multiple choice?

 

[nerdasdasd]

http://www.boardofstudies.nsw.edu.au/syllabus_hsc/pdf_doc/2012-business-studies-specimen-paper.pdf

Could someone explain to me how to do question 9 of the multiple choice?

You minus the cash expenses from the opening sales to find the opening balance, and then add the cash sales and then minus the expenses.

 

[Newbit]

You minus the cash expenses from the opening sales to find the opening balance, and then add the cash sales and then minus the expenses.

Could you show me with calculations please? I'm still not getting the answer.

 

[trevorli]

I agree with you on that one. It should be $5000, don't see how they get $7000. :/

Opening balance in Jan was 2000, you have to add it to the cash receipts as well, so it's 14 000 instead of 12 000 and work from there.. I think?

 

[Examine]

could you show me with calculations please? I'm still not getting the answer.

$1000-$500+$1000-$2500+$1000-$600+$1800-$1000 = c - $200

 

[Examine]

Basically you add the cash sales then subtract the expenses from February, and that leads to $500. This $500 is carried onto March and $1000 is added on but $2500 is subtracted (since it is an expense). Keep doing that and then you get the answer.

 

[mitchellwright8]

Opening balance in Jan was 2000, you have to add it to the cash receipts as well, so it's 14 000 instead of 12 000 and work from there.. I think?

Oh, you're right....haha how the hell did I miss that thing about the Jan opening balance. God I hope I don't do that tomorrow :/

Thanks a bunch.

 

[Spiritual Being]

Lol

lol haha

 

[phoenix515]

I've also come up with a bunch of acronyms to help remember parts of the syllabus. I posted them in a different thread earlier today, but for those who haven't yet seen them, here they are:

https://docs.google.com/open?id=0B4XzAN-sCydNdndLN1ljSF9rVEU

Thanks Man

 

[yahyah123]

These notes are amazing! Thankyou

 

[Ducky630]

Links aren't working :/
Any chance of a re-upload?

 

[Examine]

Links aren't working :/
Any chance of a re-upload?

Judging from his last login time I assume not. If you haven't already you can download nerdasdasd's notes.

 

[obliviousninja]

Judging from his last login time I assume not. If you haven't already you can download nerdasdasd's notes.

Unless you peps want to want to buy my state ranking notes. $10 per topic + integrated with case study material.