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

(d) Bank Charges - 260

What will be the resulting balance in the cash book?

A24,580 credit

B31,040 debit

C34,540 debit

D21,340 credit

Show Suggested Answer

Suggested Answer: D

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

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Stevie

4 days ago

D) 21,340 credit, got it. This is a classic cash book question. Easy peasy, lemon squeezy!

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Arlene

12 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

14 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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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

19 days ago

I agree with Lina, because the cash sales and receipts from customers will increase the balance.

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Lina

21 days ago

I think the resulting balance will be 24,580 credit.

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

Contribute your Thoughts:

Stevie

Arlene

Nancey

Lilli

Izetta

Lina