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Homework answers / question archive / The Cash T-account has a beginning balance of $21,000
The Cash T-account has a beginning balance of $21,000. During the year, $100,000 was 7. debited and $110,000 was credited to the account. What is the ending balance of Cash?
a. $11,000 debit balance b. $11,000 credit balance c. $31,000 credit balance d. $31,000 debit balance
Answer
a .
Explanation
Computation of Ending Cash Balance
A debit to the account means cash balance has increased and credit to the account means cash balance has decreased.
Ending cash balance = Beginning balance + Debited amount - Credited amount
= $21,000 + $100,000 - $110,000
= $11,000
So, the correct option is A "$11,000 debit balance".
