Question 1195828: Please help me with the homework:
1.1.look at the following statement of a 6 months credit and answer the question that follow:
STATEMENT:For Period 01-29 February 2016
DATE DESCRIPTION DEBIT CREDIT BALANCE
O1-Feb Balance brought forward R101.25
06-Feb Cosmetics R123.15 R224.40
20-Feb. Ladies Sportswear R289.49 A
27-Feb. Payment -Thank you B
Total Owing C
Amount Due. R65.65
1.1.1 What was the balance of this account on 31 January?
1.1.2. calculate the value of A.
1.1.3. A payment of R120.00 was made on 27 February.would this amount appear in the debt or credit column?
Answer by josgarithmetic(39617)   (Show Source):
You can put this solution on YOUR website! Just using the 'pre' tag to make your table look neater easier to read:
1.1.look at the following statement of a 6 months credit and answer the question that follow:
STATEMENT:For Period 01-29 February 2016
DATE DESCRIPTION DEBIT CREDIT BALANCE
O1-Feb Balance brought forward R101.25
06-Feb Cosmetics R123.15 R224.40
20-Feb. Ladies Sportswear R289.49 A
27-Feb. Payment -Thank you B
Total Owing C
Amount Due. R65.65
Somethings are wrong with your table.
Activity on 06-feb shows one debit and then the wrong balance.
Activity on 20-feb shows another debit, and "A" should be a more negative value for that balance.
Balance for 31-January , being only one day before 01-feb, is as a good guess, the R101.25, which was "brought forward".
"A payment of R120" done on 27-feb, so why is it omitted from your table? Payment means, your account should show a debit (a payment from your account) of R120.
"Amount Due...", the table statement seems more like a Credit Card, and less so like a Debit Card. You are not clear about this.
Upon looking at the table again, Forward balance and the "debit" of 06-feb, giving a "balance" of R224.40, suggest this is for a CREDIT card. At that date, amount you OWE to pay is R224.40.
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