There is $738 in the cash till at the year end, but the accountant had discovered that some cash has been stolen. At the beginning of the year there was $738 in the cash till and receivables were $492 . Total sales for the year were $89,400. Receivables at the end of the year were $1,107. Cheques banked from credited sales were $36,285 and cash sales of $28,875. have been banked.
How much cash was stolen during the year?
Receivables control account
| DEBIT | CREDIT | ||
| OPENING BALANCE | 492 | RECEIPT FROM CREDIT SALES | 36,285 |
| CREDIT SALE | ??? | ||
| CLOSING BALANCE | 1,107 |
| CREDIT SALES | 36,900 |
| TOTAL SALES | 89,400 |
| CASH SALE | 52,500 |
Cash account
| DEBIT | CREDIT | ||
| OPENING BALANCE | 738 | CASH SALES BANKED IN | 28,875 |
| CASH SALES | 52,500 | ||
| CLOSING BALANCE | 24,363 |
| COMPUTED CLOSING BALANCE | 24,363 |
| ACTUAL CLOSING BALANCE | 738 |
| MISSING CASH | 23,625 |
To do the same topic again in ACCA F3 Missing Cash
To do another topic in ACCA F3
2015 ACCA F3 Missing Cash