If Accounts Payable has debit postings of P170,000 credit postings of P140,000 and a normal ending balance of P60,000 which of the following was its beginning balance? Group of answer choices P30,000 Cr. P30,000 Dr. P90,000 Dr. P90,000 Cr.

If Accounts Payable has debit postings of P170,000 credit postings of P140,000 and a normal ending balance of P60,000 which of the following was its beginning balance? Group of answer choices P30,000 Cr. P30,000 Dr. P90,000 Dr. P90,000 Cr.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter2: T Accounts, Debits And Credits, Trial Balance, And Financial Statements

Section: Chapter Questions

Problem 1QY: Determine the balance of the following T account: 94,100 debit 54,900 debit 133,300 credit 54,900...

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

If Accounts Payable has debit postings of P170,000 credit postings of P140,000 and a normal ending balance of P60,000 which of the following was its beginning balance?

Group of answer choices

P30,000 Cr.

P30,000 Dr.

P90,000 Dr.

P90,000 Cr.

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