Explore BrainMass

Balancing an Account: Office Equipment

At the beginning of the year, the Office Equipment account of Gulf Coast Airlines had a debit balance of $126,900. During the year, debit entries of $23,400 and credit entries of $38,200 were posted to the account. What was the balance of this account at the end of the year? (Indicate debit or credit balance.)

Solution Preview

Gulf Coast Airlines

Extract of Asset side of Balance sheet:

Office Equipment Account

Beginning Balance: $126900

Add: ...

Solution Summary

This solution finds the balance of an account given debit and credit entries and debit balances.