The Xtech Co.has total debits in its cash T-account of $62,000 and total credits of $48,000.The balance in the cash T-account is a:
A) debit of $62,000.
B) debit of $14,000.
C) credit of $48,000.
D) credit of $14,000.

Question

Quizplus · Accepted Answer

The balance in the cash T-account is the difference between the total debits and total credits. Therefore, the balance is a debit of $62,000 - $48,000 = $14,000. Choice B is the only one that represents a debit balance of $14,000.