T-Accounts (All Formulas/Equations)Would you please provide me with the formula/equation used to find the missing amount in a T-Account.  Please look at the example below and provide me the answers in that same type of format so that it is easy to understand. Beginning Balance is missingTransaction on debit side is missingTransaction on credit side is missingFINDING BEGINNING BALANCE EXAMPLEBeginning balance = Ending balance + right side of T-Account - Left side of T-AccountBeginning balance = $9,800 + ($4,500 +$2,200 +$3,500) - ($2,500 +$4,000 +$3,400)Beginning balance = $9,800 + $10,200 - $9,900Begining balance = $10,100

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Asked Nov 29, 2019
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T-Accounts (All Formulas/Equations)

Would you please provide me with the formula/equation used to find the missing amount in a T-Account.  Please look at the example below and provide me the answers in that same type of format so that it is easy to understand. 

Beginning Balance is missing

Transaction on debit side is missing

Transaction on credit side is missing

FINDING BEGINNING BALANCE EXAMPLE
Beginning balance = Ending balance + right side of T-Account - Left side of T-Account
Beginning balance = $9,800 + ($4,500 +$2,200 +$3,500) - ($2,500 +$4,000 +$3,400)
Beginning balance = $9,800 + $10,200 - $9,900
Begining balance = $10,100

 

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Expert Answer

Step 1

Determine beginning balance for account having debit balance and credit balance as shown below:

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 ofT-account
help_outline

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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 ofT-account

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Step 2

Compute missing debit balance for accoun...

Accounts having debit balance (Assets, Expenses):
Debit balance
Left side of T-account Ending balance-Beginning balanoce
Accounts having credit balance (Liabilities, Income):
Debit balance Ending balance- Left side of T-account-Beginning balance
help_outline

Image Transcriptionclose

Accounts having debit balance (Assets, Expenses): Debit balance Left side of T-account Ending balance-Beginning balanoce Accounts having credit balance (Liabilities, Income): Debit balance Ending balance- Left side of T-account-Beginning balance

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