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June 2009 Mock Exam Question - Level III Manual

  • 4 posts
  • # 102370

Regarding question 3 re: Colin Price is a "mobile quality fishmonger", I can not work out the total sales...

I calculate total sales to be 209,050.00 which consists of 163,500 cash sales, 44,100 receipts from credit customers and 1,450 being the increase in debtors (8,950 - 7,500).  However, this amount should be 209,150 as per the answer sheet.  Could someone who has completed this mock please advice me on where I am going wrong and where the extra 100 comes from?

Thanks,

Ben

  • Member PM.Dip
  • 6 posts
  • # 102523

Hello Ben.

Not sureif you've got a solution to this, but the extra £100 comes from the extra cash balance. You need to assume this is additional sales income.

I hope that makes sense to you.

Sam

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