Question
In: Accounting
Case (A) Case (B) Case (C) Beginning Balance (BB) ? $ 23,000 $ 7,900 Ending Balance...
| Case (A) | Case (B) | Case (C) | |||||||||
| Beginning Balance (BB) | ? | $ | 23,000 | $ | 7,900 | ||||||
| Ending Balance (EB) | $ | 67,000 | 19,200 | 8,300 | |||||||
| Transferred In (TI) | 149,600 | 97,700 | ? | ||||||||
| Transferred Out (TO) | 164,600 | ? | 21,100 | ||||||||
For Case (A) above, what is the Beginning Balance (BB)?
$52,000.
$82,000.
$67,000.
$97,600.
Solutions
Expert Solution
Formula - By using the below formula we can easily find the missing one.
Transfered out = Beginning balance + Transferred In - Ending balance
Putting the above formula in the table form:-
| Beginning stock balance | XXX |
| Add: Stock transferred In | XXXX |
| Total stock available for to be transferred | XXXXXXX |
| Less: Ending stock balance | XX |
| Stock transfered out | XXXXX |
Case A - Calculation of Beginning Balance (BB)
Transferred out = Beginning balance + Transferred In - Ending balance
**From the above formula, we can derive (or extract) the following formula
Beginning balance (BB) = Transferred out - Transferred In + Ending balance
Beginning balance (BB) = $164,600 - $149,600 + $67,000
Beginning balance (BB) = $82,000
Case B - Calculation of Transferred Out (TO)
Transferred out = Beginning balance + Transferred In - Ending balance
Transferred out = $23,000 + $97,700 - $19,200
Transfered out = $101,500
Case C - Calculation of Tranferred In (TI)
Transfered out = Beginning balance + Transferred In - Ending balance
**From the above formula, we can derive (or extract) the following formula
Transferred In = Transfered out - Beginning balance + Ending balance
Transferred In = $21,100 - $7,900 + $8,300
Transferred In = $21,500
Conclusion (Answers)
Case A - Beginning Balance (BB) = $82,000
Case B - Transferred Out (TO) = $101,500
Case C - Transferred In (TI) = $21,500
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ekkarill92 answered 8 months agoRelated Solutions
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Total assets
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$
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Accounts
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91
Inventory
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Property, plant,
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813
670
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318
Total
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