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.

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 1 year ago

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