T-Account FormulasPlease provide me the formulas to find the missing amount on the debit side, credit side, beginning balance (DR), beginning balance (CR), ending balance (DR), and ending balance (CR).  Please write the formula out and do not place in Excel.  Here is a T-Account that is  missing a CR amount.  Please answer and explain as clearly and simple as possibleDebit Side6/4 15006/8 2000Credit SideBeginning Balance 30006/6 Missing CR amount6/29 3400Ending Balance 6700

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Asked Nov 30, 2019
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T-Account Formulas

Please provide me the formulas to find the missing amount on the debit side, credit side, beginning balance (DR), beginning balance (CR), ending balance (DR), and ending balance (CR).  Please write the formula out and do not place in Excel.  

Here is a T-Account that is  missing a CR amount.  Please answer and explain as clearly and simple as possible

Debit Side

6/4 1500

6/8 2000

Credit Side

Beginning Balance 3000

6/6 Missing CR amount

6/29 3400

Ending Balance 6700

 

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Expert Answer

Step 1

Compute missing debit balance and credit side balance for accounts as shown below:

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Accounts having beginning balance (Dr) for missing debit side amount: Debit balance Left side of T-account + Ending balance - Beginning balance Accounts having beginning balance (Cr) for missing debit side amount: Debit balance Ending balance- Left side of T-account - Beginning balance Accounts having beginning balance (Dr) for missing credit side amount: Credit balance Beginning balance+ Right side of T-account - Ending balance Accounts having beginning balance (Cr) for missing credit side amount: Credit balance Ending balance- Beginning balance - Right side of T-account

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Step 2

Determine beginning balance for account having debit balanc...

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Accounts having debit balance (Assets, expenses): Beginning balance Left side of T-account Ending balance - Right side of T-account Accounts having credit balance (Liabilities, Incomes) Beginning balance Right side of T-account + Ending balance - Left side of T-account

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