PARRISH 2-7 SOLVING FOR T-ACCOUNTS I know what T-Accounts are and how they work. I simply need you to find the missing transaction amounts in the following examples. Please show your formula or method used, BUT not in an Excel spreadsheet format. Also are there different formulas to use to find the missing transaction amount depending on if it is an asset, expense, liability etc. If so please explain that as well. Thank you. Salary Expense Left Side of T-Account 2/1 Beginning Balance $80000 2/15 Transaction A $20000 2/28 Transaction C $6000 Ending Balance-UNKOWN Right Side of T-Account 2/10 Transactiono B $10000 Service Fee Revenue Left Side of T-Account Transaction C-UNKOWN Right Side of T-Account 3/1 Beginning Balance $6000 3/6 Transaction A $3000 3/22 Transaction B $3500 Ending Balance $10500 Cash Left Side of T-Account 1/1 Beginning Balance-UNKOWN 1/2 Transaction A $2500 1/15 Transaction B $4000 1/28 Transaction E $3400 Ending Balance $9800 Right Side of T-Account 1/16 Transaction C $4500 1/20 Transaction D $2200 1/29 Transaction F $3500
PARRISH 2-7 SOLVING FOR T-ACCOUNTS
I know what T-Accounts are and how they work. I simply need you to find the missing transaction amounts in the following examples. Please show your formula or method used, BUT not in an Excel spreadsheet format. Also are there different formulas to use to find the missing transaction amount depending on if it is an asset, expense, liability etc. If so please explain that as well.
Thank you.
Salary Expense
Left Side of T-Account
2/1 Beginning Balance $80000
2/15 Transaction A $20000
2/28 Transaction C $6000
Ending Balance-UNKOWN
Right Side of T-Account
2/10 Transactiono B $10000
Service Fee Revenue
Left Side of T-Account
Transaction C-UNKOWN
Right Side of T-Account
3/1 Beginning Balance $6000
3/6 Transaction A $3000
3/22 Transaction B $3500
Ending Balance $10500
Cash
Left Side of T-Account
1/1 Beginning Balance-UNKOWN
1/2 Transaction A $2500
1/15 Transaction B $4000
1/28 Transaction E $3400
Ending Balance $9800
Right Side of T-Account
1/16 Transaction C $4500
1/20 Transaction D $2200
1/29 Transaction F $3500
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