contestada

The Cash T-account of Rainbow, Inc. has a beginning balance of $52,000. During the year, $244,000 was debited and $241,000 was credited to the account. What is the ending balance of cash?

Respuesta :

Answer:

Ending balance will be equal to $55000

Explanation:

We have given beginning balance = $52000

Debited amount = $244000

And credited amount = $241000

We have to find the ending balance of cash

Ending balance is given by

Ending balance = beginning balance + credit amount - credited amount

So ending balance [tex]=52000+244000-241000=55000[/tex]

So ending balance will be equal to $55000

marvineetesh3

The Cash T-account of Rainbow, Inc. has a beginning balance of $52,000. During the year, $244,000 was debited and $241,000 was credited to the account. What is the ending balance of cash is $55000.

Computation:

Given that,

Opening balance = $52000,

Amount Debited = $244000,

Amount credited = $241000.

Cash in hand = ?

Formula for Closing balance:

[tex]\text Closing Balance = \text Closing\ Balance+ Credit\ amount- Debit\ amount.[/tex]

Hence, by applying the formula and putting the given values,

                               In [$]:

[tex]\text= Closing\ Balance = \text 52,000+2,44,000-2,41,000\\&=Closing\ Balance=55,000.[/tex]

learn more about T-account refer:

https://brainly.com/question/14580677

Otras preguntas