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T-Account Formulas Please provide the formulas (Typed out and not in an Excel Sheet) and answers to the following problems.  DEBIT SIDE OF T-ACCOUNTS 1) Find Beginning Balance  CASH Debit Side 1/1 Beginning Balance  UNKNOWN 1/3 Transaction A 2,500 1/15 Transaction B 4,000 1/28 Transaction E 3,400 Ending Balance 9,800 Credit Side 1/16 Transaction C 4,500 1/20 Transaction D 2,200 1/29 Transaction F 3,500   Problem 2) Find Ending Balance  INVENTORY Debit Side 4/1 Beginning Balance 40,000 4/15 Transaction B 5,000 Ending Balance UNKNOWN Credit Side 4/9 Transaction A 8,000 4/28 Transaction C 25,000 SELLING EXPENSE Problem 3) Find Credit Amount Debit Side Beginning Balance 0 1/5 Transaction A 1,500 1/13 Transaction B 6,000 1/28 Transaction C 8,700 Ending Balance 14,700 Credit Side 1/9 Transaction D UNKNOWN INTEREST EXPENSE Problem 4) Find Debit Amount Debit Side 8/1 Beginning Balance 800 8/7 Transaction A UNKNOWN8/14 Transaction B 500 Ending Balance 1,800 Credit Side No Transactions     CREDIT SIDE OF T-ACCOUNTS Problem 1) Find Debit(s)  SERVICE FEE REVENUE Debit Side (2-7)  3/28 UNKNOWN 3/15 2,000 Credit Side 3/1 Beginning Balance 6.000 3/6 Transaction A 3,000 3/22 Transaction B 3,500 Ending Balance 10,500d Problem 2) Find Credit(s) ACCOUNTS PAYABLE Debit Side 6/4 Transaction A 1,500 6/8 Transaction C 2,000 Credit Side 6/1 Beginning Balance 3,000 6/6 Transaction B UNKOWN 6/29 Transaction D 3,400 ***Please Provide Formulas for Finding the Beginning and Ending Balances as well***

T-Account Formulas Please provide the formulas (Typed out and not in an Excel Sheet) and answers to the following problems.  DEBIT SIDE OF T-ACCOUNTS 1) Find Beginning Balance  CASH Debit Side 1/1 Beginning Balance  UNKNOWN 1/3 Transaction A 2,500 1/15 Transaction B 4,000 1/28 Transaction E 3,400 Ending Balance 9,800 Credit Side 1/16 Transaction C 4,500 1/20 Transaction D 2,200 1/29 Transaction F 3,500   Problem 2) Find Ending Balance  INVENTORY Debit Side 4/1 Beginning Balance 40,000 4/15 Transaction B 5,000 Ending Balance UNKNOWN Credit Side 4/9 Transaction A 8,000 4/28 Transaction C 25,000 SELLING EXPENSE Problem 3) Find Credit Amount Debit Side Beginning Balance 0 1/5 Transaction A 1,500 1/13 Transaction B 6,000 1/28 Transaction C 8,700 Ending Balance 14,700 Credit Side 1/9 Transaction D UNKNOWN INTEREST EXPENSE Problem 4) Find Debit Amount Debit Side 8/1 Beginning Balance 800 8/7 Transaction A UNKNOWN8/14 Transaction B 500 Ending Balance 1,800 Credit Side No Transactions     CREDIT SIDE OF T-ACCOUNTS Problem 1) Find Debit(s)  SERVICE FEE REVENUE Debit Side (2-7)  3/28 UNKNOWN 3/15 2,000 Credit Side 3/1 Beginning Balance 6.000 3/6 Transaction A 3,000 3/22 Transaction B 3,500 Ending Balance 10,500d Problem 2) Find Credit(s) ACCOUNTS PAYABLE Debit Side 6/4 Transaction A 1,500 6/8 Transaction C 2,000 Credit Side 6/1 Beginning Balance 3,000 6/6 Transaction B UNKOWN 6/29 Transaction D 3,400 ***Please Provide Formulas for Finding the Beginning and Ending Balances as well***

FINANCIAL ACCOUNTING
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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T-Account Formulas

Please provide the formulas (Typed out and not in an Excel Sheet) and answers to the following problems. 

DEBIT SIDE OF T-ACCOUNTS

1) Find Beginning Balance 

CASH

Debit Side

  • 1/1 Beginning Balance  UNKNOWN
  • 1/3 Transaction A 2,500
  • 1/15 Transaction B 4,000
  • 1/28 Transaction E 3,400
  • Ending Balance 9,800

Credit Side

  • 1/16 Transaction C 4,500
  • 1/20 Transaction D 2,200
  • 1/29 Transaction F 3,500

 

Problem 2) Find Ending Balance 

INVENTORY

Debit Side

  • 4/1 Beginning Balance 40,000
  • 4/15 Transaction B 5,000
  • Ending Balance UNKNOWN

Credit Side

  1. 4/9 Transaction A 8,000
  2. 4/28 Transaction C 25,000

SELLING EXPENSE

Problem 3) Find Credit Amount

Debit Side

  • Beginning Balance 0
  • 1/5 Transaction A 1,500
  • 1/13 Transaction B 6,000
  • 1/28 Transaction C 8,700
  • Ending Balance 14,700

Credit Side

  • 1/9 Transaction D UNKNOWN

INTEREST EXPENSE

Problem 4) Find Debit Amount

Debit Side

  • 8/1 Beginning Balance 800
  • 8/7 Transaction A UNKNOWN
    8/14 Transaction B 500
  • Ending Balance 1,800

Credit Side

  • No Transactions

 

 

CREDIT SIDE OF T-ACCOUNTS

Problem 1) Find Debit(s)

 SERVICE FEE REVENUE

Debit Side (2-7) 

  • 3/28 UNKNOWN
  • 3/15 2,000

Credit Side

  • 3/1 Beginning Balance 6.000
  • 3/6 Transaction A 3,000
  • 3/22 Transaction B 3,500
  • Ending Balance 10,500d

Problem 2) Find Credit(s)

ACCOUNTS PAYABLE

Debit Side

  • 6/4 Transaction A 1,500
  • 6/8 Transaction C 2,000

Credit Side

  • 6/1 Beginning Balance 3,000
  • 6/6 Transaction B UNKOWN
  • 6/29 Transaction D 3,400

***Please Provide Formulas for Finding the Beginning and Ending Balances as well***

 

 

 

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