The Accounts Payable account of Golden,Inc.has the following postings: $$\begin{array} { r | l }
{ \text { Accounts Payable } } \
\hline 18,000 & 29,000 \
5,000 & 12,000
\end{array}$$ Calculate the ending balance of the account.

Question

The Accounts Payable account of Golden,Inc.has the following postings: $$\begin{array} { r | l } 
{ \text { Accounts Payable } } \
\hline 18,000 & 29,000 \
5,000 & 12,000
\end{array}$$ Calculate the ending balance of the account.

Quizplus · Accepted Answer

The ending balance is calculated by subtracting the debits from the credits: (29,000 + 12,000) - (18,000 + 5,000) = 18,000 credit.

The Accounts Payable Account of Golden,Inc Accounts Payable 18,00029,0005,00012,000\begin{array} { r | l } { \text { Accounts Payable } } \\\hline 18,000 & 29,000 \\5,000 & 12,000\end{array} Accounts Payable 18,0005,000​29,00012,000​​

The Accounts Payable Account of Golden,Inc $\begin{array} { r | l } { \text { Accounts Payable } } \\\hline 18,000 & 29,000 \\5,000 & 12,000\end{array}$