Asked Nov 23, 2019

Parrish Pg. 38 2-9 #1 Asked 11/23/19

Please solve following t-accounts and calculate the missing amount.  Additionally CLEARLY explain how you arrived at the CORRECT answer.  Thank you.

Left side of T-Account (This is a Cash account)

5/1 Beginning Balance UNKOWN

5/18 Transaction B $5000

Right side of T-Account

5/16 Transaction A $2000

5/19 Transaction C $25000

Ending Balance $65000 (This is on left side of T-Account)


Expert Answer

Step 1

T-accounts are presented in t-shape with debit  on the left and credit on the right side....

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in



Related Accounting Q&A

Find answers to questions asked by student like you
Show more Q&A

Q: Parrish Ch. 3 Pg. 57 Please fill out the GL based on the questions from the workbook and explain rea...

A: Record the journal entries as shown below:


Q: Blue Laboratories holds a valuable patent (No. 758-6002-1A) on a precipitator that prevents certain ...

A: Bonds:Bonds are debt instruments issued by the borrower company to its lenders. Bonds are issued at ...


Q: OWv2| Onlin X om/ilrn/takeAssignment/

A: Entry for May. 1


Q: Coronet Company provided the following information related to its inventory sales and purchases for ...

A: In order to calculate budgeted purchases, we need ending inventory and beginning inventory, these ar...


Q: Bonita Industries purchased a new machine on May 1, 2012 for $561600. At the time of acquisition, th...

A: Calculate the loss recognized from the sale of machine:


Q: Second Time Asking!ACCOUNTS-FINANCIAL STATEMENTS-REAL/NOMINAL (I asked this question before and my q...

A: Financial Statements: It records of the financial activities undertaken by a person or business. It ...


Q: Absorption Costing Income Statement On October 31, the end of the first month of operations, Maryvil...

A: Absorption Costing: “Absorption costing is a method that allocates “direct labor, direct materials, ...


Q: Paid-in-capital What types of paid-in-capital are there and what is the diffference in each ownershi...

A: Capital:Capital is the amount invested in the business. Capital increases by the amount of  profits ...


Q: Striker Chemical Lab manufactures liquids into three different outputs: Freisa, Bracko, and Pragin. ...

A: 1. In order to determine if the product needs to be processed further or sold at split off point, th...