On September 30, the Cash account of Value Company had a normal balance of $5,000. During September, the account was debited for a total of $12,200 and credited for a total of $11,500. What was the balance in the Cash account at the beginning of September?
A) A $0 balance.
B) A $4,300 debit balance.
C) A $4,300 credit balance.
D) A $5,700 debit balance.
E) A $5,700 credit balance.

Question

Quizplus · Accepted Answer

The beginning balance can be calculated by taking the ending balance, adding the total credits, and subtracting the total debits. So, $5,000 (ending balance) + $11,500 (credits) - $12,200 (debits) = $4,300 debit balance.

On September 30, the Cash Account of Value Company Had