Answered

Consider the following T-account for Accounts Payable.

\begin{tabular}{l|rl}
\hline
Debit & Accounts Payable & \\
\hline
& \multicolumn{2}{|c}{Credit} \\
\hline
8,300 & 10,800 & \\
\hline
& 4,400 & Balance \\
\end{tabular}

Compute the ending balance of the Accounts Payable account.



Answer :

GinnyAnswer
To calculate the ending balance of the Accounts Payable account, we need to account for all debits and credits within the account.

1. Identify the debits and credits:

- Debit: \[tex]$8,300 (posted to the left side of the T-account) - Credits: \$[/tex]10,800 and \[tex]$4,400 (posted to the right side of the T-account) 2. Sum the credits: Add the credit entries together: \[ \$[/tex]10,800 + \[tex]$4,400 = \$[/tex]15,200
\]

3. Subtract the debit total from the credit total to determine the ending balance:

Calculate the difference between the sum of the credits and the debits:
[tex]\[ 15,200 - 8,300 = 6,900 \][/tex]

4. State the resulting balance:

The ending balance of the Accounts Payable account is \$6,900.

Other Questions