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CIMA Exam CIMAPRA17-BA3-1 Topic 1 Question 89 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam
Question #: 89
Topic #: 1
[All CIMAPRA17-BA3-1 Questions]

A company's cashbook has an opening balance of 4,860 debit. The following transactions then took place:

(a) Cash sales - 23,500, including VAT of 3,500

(b) Receipts from customers - 18,600

(c) Payments to payables 12,400, less cash discounts of 240

(d) Bank Charges - 260

What will be the resulting balance in the cash book?

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Suggested Answer: D

by Sheridan at May 30, 2024, 02:07 AM

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Arlene
4 days ago
Hmm, I'm not too sure about this one. Let me go through the numbers again. Ah, I see now, D) 21,340 credit is the correct answer. Nice one!
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Nancey
6 days ago
I'm not sure, but I think it might be 21,340 credit because of the payments to payables and bank charges reducing the balance.
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Lilli
6 days ago
I think the answer is D) 21,340 credit. The question gives us the opening balance, and then we need to add the cash sales and receipts, and subtract the payments and bank charges. This seems to add up to a credit balance of 21,340.
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Izetta
11 days ago
I agree with Lina, because the cash sales and receipts from customers will increase the balance.
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Lina
13 days ago
I think the resulting balance will be 24,580 credit.
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