ATAR Notes: Forum

HSC Stuff => HSC Humanities Stuff => HSC Subjects + Help => HSC Business Studies => Topic started by: jamie anderson on August 07, 2016, 01:40:16 pm

Title: Business Question
Post by: jamie anderson on August 07, 2016, 01:40:16 pm

How would i do this ?

Thanks

Title: Re: Business Question
Post by: Adriaclya on August 07, 2016, 05:23:04 pm

Quote from: jamie anderson  on August 07, 2016, 01:40:16 pm

How would i do this ?

hey there!
So first, we know that
cash receipts is basically the shop's income;
cash payments is basically the shop's expenditure.
Now the cash receipts minus the cash payments = profits.
On to the quesiton, remembering the opening balance (or in other words the starting money) is 2000 dollars,
During January, the profit equates to 4000 dollars
             February, the profit equates to 6000 dollars
             March, the profit equates to 1000 dollars
             April, the profit equates to -1000 dollars
             May, the profit equates to -5000 dollars
Adding these profits gives TOTAL PROFITS = 4000+6000+1000-1000-5000
                                                                            = 5000 dollars
Adding the opening balance gives closing balance = 5000 + 2000
                                                                                                  = 7000 dollars
i hope this answers your question !