Question

1. In the first month of operations, the total of the debit entries to the cash account amounted to $1900 and the total of the credit entries to the cash account amounted to $800. The cash account has a balance of……………….

Answer 1

Cash account balance = $1100

Step-by-step explanation:

1. Calculate the total of the debit entries:

Debit entries : $1900

2. Calculate the total of the credit entries:

Credit entries: $800

3. Calculate the cash account balance:

Cash account balance = Debit entries - Credit entries

Cash account balance = $1900- $800

Cash account balance = $1100