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If Accounts Payable has debit postings of $17,000, credit postings of $14,000, and a normal ending balance of $6,000

If Accounts Payable has debit postings of $17,000, credit postings of $14,000, and a normal ending balance of $6,000, what was its beginning balance (in $) and in which sides (choose Dr. or Cr.)? $ Dr. / Cr.

Solutions

Expert Solution

The beginning balance (in $) in Accounts Payable and that will appear on Dr.side and Cr. side is calculated as follow:

            Accounts Payable

Particular $ Particular $
Debit Postings    17,000 Beginning balance (Cr.)           9,000
    ($23,000 - $14,000)
Ending Balance 6,000, Credit Postings        14,000
Total    $23,000 Total      $23,000

   The beginning balance (in $) in Accounts Payable is $ 9000 Cr.side.

ekkarill92 answered 3 years ago
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