UNIT 3 Recording Actual Income and Expenditure


Step 3: Balance b/d Balance brought down (b/d) is the same figure as the balance c/d (€51.50).


It is always brought down on the opposite side. In this example, the balance c/d was on the credit side and therefore it will be brought down on the debit side. It is placed below the total figure on the larger side – in this case, below €70 on the debit side.


The figure is labelled as ‘balance b/d’ and is dated on the first day of the new period, e.g. 01 Feb 2022 (opening balance). Ciara starts February with €51.50 cash.


Note: balance b/d may sometimes be on the credit side of the book. If this is the case it means that the individual/household is short cash.


C


Debit Side Money in (+) Details


Date 2022


01 Jan Pocket money 07 Jan Birthday money


Cash Account of Ciara


Total €


Date 2022


Money out (–) Credit Side Details


20 02 Jan Disco ticket 50 08 Jan Bus ticket 08 Jan Lunch


31 Jan Balance c/d 70 01 Feb Balance b/d 51.50 This means that Ciara had €51.50 cash at the end of January/start of February. Examination Tip


 Always include the year, e.g. DD/MM/YYYY or as above.


 Think of ‘b’ for balance brought down and ‘b’ for below the line.


Think IT!


• What was Ciara’s balance on 1 January? • What was Ciara’s balance on 1 February?


Total €


10 5


3.50


51.50 70


Recommendations 1. Save: Ciara could save her €51.50 and earn interest.


2. Purchases: Ciara could spend some of the €51.50 on satisfying her wants.


3. Pay off bill: Ciara could pay off a bill which may be due next month.


Write It!


Complete a cash account for Michael Lavelle with the following income and expenditure. (Insert a tick () if the transaction is on the debit or credit side.)


Transactions


01 Mar 2022 received pocket money 02 Mar 2022 purchased phone credit 17 Mar 2022 received money for babysitting 21 Mar 2022 bought concert ticket 30 Mar 2022 bought sweets


€ Debit + Credit – 30 10 40 30 5


 49


Examination Tip


Make sure to refer to the person given in the question and their circumstances.


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