Question

Question 32 4.75 pts The beginning balance in the cash account is $1,000 before the journal entries listed below are posted to their general ledger accounts. After these journal entries are posted to the general ledger, what would be the ending balance in the Cash Account? Credit Date 1/3 Accounts Equipment Debit 2,340 Accounts Payable 2,340 1/5 Rent Expense 300 Cash 300 1/15 Cash 581 Service Revenue 581 1/31 Salaries Expense 370 Cash 370 Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc.. just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123 you would only input: 24123

Answer 1

Ans: After posting the journal entries in general ledger, the ending balance in cash account would be 911 or $911 (as asked in the question)

T- Account Of Cash Ledger showing the posting of above journal entries.

Cash

	Amount		Amount
Beginning Balance	$1000	1/5 Rent Expense	$300
1/15 Service Revenue	$581	1/31 Salaries Expense	$370
Balance (Balancing Figure)	$911

Ending balance of cash is arrived by subtracting credit total from the debit total.

Debit total - Credit total = Closing cash balance

($1000+$581) - ($300+$370) = $911