Question

On may 31, the cash account of bottle's r us had a normal balance of $6,700. during may, the account was debited for a total of $13,900 and credited for a total of $13,200. what was the balance in the cash account at the beginning of may?

Answer 1

Calculation of Beginning Balance in Cash Account:

It is given that On May 31, the cash account had a normal balance of $6,700, that means the ending balance is $6,700 Debit. And during May, the account was debited for a total of $13,900 and credited for a total of $13,200.

Hence the Beginning Balance for Cash Account can be calculated as follows:

Beginning balance in cash Account = Ending Balance in cash Account + Credit Entries – Debit entries

= 6700+13200-13900

= $6,000

Hence, the Beginning Balance in Cash Account was $6,000