What is the correct formula for finding the closing cash balance?

Opening balance + Receipts

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Opening balance + Receipts + Payments

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Opening balance - Receipts - Payments

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Opening balance + Receipts - Payments

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Solution

The correct option is D
Opening balance + Receipts - Payments

Closing balance = Opening balance + Receipts - Payments.

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Identify the correct formula used to ascertain the closing balance of capital:

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What is the correct formula for finding the closing cash balance?

The correct option is D Opening balance + Receipts - Payments Closing balance = Opening balance + Receipts - Payments.

The correct option is D
Opening balance + Receipts - Payments

Closing balance = Opening balance + Receipts - Payments.