Scelta multipla
Which of the following would be considered a seller debit in the closing statement?
210
views
2. Transaction Analysis
Journal Entries: Debits and Credits
Scelta multipla
Your bank account balance is \(-\$20.85\). You deposit \$15.50. What is your new balance?
A
\(-\$5.35\)
B
\(-\$35.35\)
C
\$36.35
D
\$5.35
Guida verificata passo dopo passo1
Step 1: Understand the problem. The initial bank account balance is negative, indicating an overdraft of -\$20.85. A deposit of \$15.50 is made, which will reduce the overdraft amount.
Step 2: Represent the problem mathematically. The new balance can be calculated by adding the deposit amount to the current balance:
Step 3: Perform the addition. Since the initial balance is negative, adding a positive number (the deposit) will reduce the magnitude of the negative balance. This is equivalent to subtracting the deposit amount from the absolute value of the negative balance.
Step 4: Determine the sign of the result. If the deposit amount is less than the absolute value of the negative balance, the result will still be negative. If the deposit amount is greater, the result will be positive.
Step 5: Compare the calculated new balance to the provided answer choices (-\$5.35, -\$35.35, \$36.35, \$5.35) to identify the correct answer.
Video correlati
Pratica correlata
