plz solve this question asap!

[kamranACA]

Q2There is $100 in the cash till at the year end at F ltd,but the accountant has discovered that some cash has been stolen.At the beginning of the year there was $50 in the cash till n debtors were $2000.Total sales in the year were $230,000.Debtora at the end of the year were $3000.Cheques banked from credit sales were $160,000 and cash sales of $50000 have been banked.
How much cash was stolen during the year?

SUGGESTED ANSWER

It is assumed that cash plus credit total sales = 230000$ (in which break up of cash sales and credit sales is not known.)

We calculate credit sales by following reconciliation


Closing debtors = 3,000$
Add
Total cheques received against credit sales = 160,000$

Less
Opening debtors = 2,000$

=
Credit sales = 161,000$


NOW,

After knowing credit sales we can calculate cash sales as under

Cash sales = Total sales - credit sales

= 230,000$ - 161,000$

= 69,000 $


Now cash stolen can be determined by following reconciliation

Opening cash in hand/till = 50$

Add Cash sales = 69,000$

Less Cash deposited against cash sales = 50,000$

Less Closing cash in hand/till = 100$

=

Cash stolen = 18,950$

THEREFORE CASH STOLEN IS EQUAL TO 18,950$.