Accounting Spreadsheet [Excel Template] Create it in 15 minutes - Free Printable

The image shows an Accounting Spreadsheet for the company Highfield Widgets for the year 2019. The task appears to involve verifying or calculating the Close Balance based on the provided transactions and initial balances. Let's break this down step by step:

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Given Information:

1. Start Date: 01/01/2019
2. End Date: 31/12/2019
3. Open Balance: £100.00
4. HSBC Receipts: £2,339.63
5. HSBC Payments: £959.41
6. Close Balance (Calculated): £1,480.22

#### Transaction Details:
| Date | Transaction | Description | Analysis | Reference | Value |
|------------|---------------|----------------|---------------|-----------|-----------|
| 01/01/2019 | HSBC Receipts | ABC Ltd | Sales - A | 123456 | £250.00 |
| 02/01/2019 | HSBC Payments | XYZ Ltd | Telephone | G678 | £76.96 |
| 03/01/2019 | HSBC Payments | Wages | Sub-Contract | Bill Pearce | £750.00 |
| 04/01/2019 | HSBC Payments | Ian Cooper | Materials | 1754 | £102.89 |
| 05/01/2019 | HSBC Receipts | Fren Ltd | Repairs | KH52 | £2,089.63 |
| 06/01/2019 | HSBC Payments | Fren Ltd | Repairs | KH52 | £19.56 |

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Objective:

Verify if the Close Balance of £1,480.22 is correct by recalculating it using the provided transactions and initial balance.

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Step-by-Step Solution:

#### 1. Start with the Open Balance:
The Open Balance is given as £100.00.

#### 2. Add All Receipts (Income):
From the transaction table:
- 01/01/2019: HSBC Receipts from ABC Ltd = £250.00
- 05/01/2019: HSBC Receipts from Fren Ltd = £2,089.63

Total Receipts = £250.00 + £2,089.63 = £2,339.63

#### 3. Subtract All Payments (Expenses):
From the transaction table:
- 02/01/2019: HSBC Payments to XYZ Ltd = £76.96
- 03/01/2019: HSBC Payments for Wages = £750.00
- 04/01/2019: HSBC Payments to Ian Cooper = £102.89
- 06/01/2019: HSBC Payments to Fren Ltd = £19.56

Total Payments = £76.96 + £750.00 + £102.89 + £19.56 = £959.41

#### 4. Calculate the Close Balance:
The formula to calculate the Close Balance is:
\[
\text{Close Balance} = \text{Open Balance} + \text{Total Receipts} - \text{Total Payments}
\]

Substitute the values:
\[
\text{Close Balance} = £100.00 + £2,339.63 - £959.41
\]

Perform the calculation:
\[
\text{Close Balance} = £100.00 + £2,339.63 = £2,439.63
\]
\[
\text{Close Balance} = £2,439.63 - £959.41 = £1,480.22
\]

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Verification:

The calculated Close Balance is £1,480.22, which matches the provided Close Balance in the spreadsheet.

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Final Answer:

\[
\boxed{1480.22}
\]