Question

Determine the ending balance of each of the following T-accounts. Cash 220 420 140 170 180 Accounts Payable 3,200 11,600 4,900 Supplies 11,2005,000 2,300 Accounts Receivable 1,200 270 270 270 220 Wages Payable 820 Cash 14,600E5,700 9 207 ,200 22045 2,500 820

Answer 1

Answer:

Cash			Accounts payable
220	170		3,200	11,600
420	180		4,900
140
430				3,500
Supplies			Accounts Receivable
11,200	5,000		1,200	270
2,300				270
				270
				220
8,500			170
Wages Payable			Cash
	820		14,600	5,700
820			920	7,200
			220	2,500
	0		340

Explanation:

Amount in Bold are Ending balances

For each account above, Left side is 'Debit' and Right side is 'Credit'.

i. For 'Cash', 'Accounts receivable' and 'Supplies',

Ending balance = Total Debits - Total Credits & Ending balance is in 'Debit side'

ii. For 'Accounts payable' and 'Wages payable',

Ending balance = Total Credits - Total Debits & Ending balance is in 'Credit side'.