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when cash is incorrectly debited for 100 instead of credit, is the cash account out of balance by 100 or 200 dollars?
when cash is incorrectly debited for 100 instead of credit, is the cash account out of balance by 100 or 200 dollars?
Expert Solution
when cash is incorrectly debited for 100 instead of credit than the cash account is out of balance by 200 dollars....
Let's take an example :-
We have a opening cash balance of 1000 dollars a 100 dollar of credit increases the cash balance to 1100 dollars ....
If we wrongly debit 100 dollars instead of crediting them the cash balance will be 900 dollars....
Hence when cash is incorrectly debited for 100 dollars instead of credit the cash account is out of balance by 200 dollars....
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