Ask Question
22 June, 01:15

The cash account had a normal balance of $48,000 at the beginning of the month. during the month, langdon company received cash payments from its customers of $22,000 and made cash payments of $8,000 for expenses incurred and $6,000 on account. the balance in the cash account after posting these transactions is

+5
Answers (1)
  1. 22 June, 01:35
    0
    Calculation of balance in cash account after posting the given transactions;

    Cash account normal (Debit) balance $48,000

    Add: Cash received from Customers $22,000

    Less: Cash Paid for Expenses incurred $8,000

    Cash Balance = (48000+22000-8000) = $62,000

    (Note: Expenses on account $6,000 shall not affect the cash balance as there is no cash transaction)

    Hence the balance in cash account after posting the given transactions shall be $62,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The cash account had a normal balance of $48,000 at the beginning of the month. during the month, langdon company received cash payments ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers