Question

During the accounting period, Cash was debited for $4,000, $3,000, and $1,000. Cash was also credited for $3,000, $500, and $100. The beginning balance of Cash was a $10,000 debit. What is the ending balance of Cash on the post-closing trial balance?

Answer 1

Answer:

balance:      14,400 debit

Explanation:

We can solve this by doing the Cash T-accounts:

We write the debits under debit colum and credits under credit column

Then we calculate the total for each column and detemrinate the balance.

                         Cash

                  Debit     Credit  

beginning   10,000   3,000

                    4,000      500

                    3,000      100

                     1,000              

totals           18,000   3,600

balance:      14,400