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***
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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 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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