If Accounts Payable has debit postings of P170,000 credit postings of P140,000 and a normal ending balance of P60,000 which of the following was its beginning balance? Group of answer choices P30,000 Cr. P30,000 Dr. P90,000 Dr. P90,000 Cr.

If Accounts Payable has debit postings of P170,000 credit postings of P140,000 and a normal ending balance of P60,000 which of the following was its beginning balance? Group of answer choices P30,000 Cr. P30,000 Dr. P90,000 Dr. P90,000 Cr.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

If Accounts Payable has debit postings of P170,000 credit postings of P140,000 and a normal ending balance of P60,000 which of the following was its beginning balance?

Group of answer choices

P30,000 Cr.

P30,000 Dr.

P90,000 Dr.

P90,000 Cr.

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