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Balancing an Account: Office Equipment

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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.)

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Solution Summary

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

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Gulf Coast Airlines

Extract of Asset side of Balance sheet:

Office Equipment Account

Beginning Balance: $126900

Add: ...

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