For Case (A)above,what is the Ending Balance (EB)?
A)$36,920
B)$36,520
C)$34,720
D)$38,320

Question

Quizplus · Accepted Answer

The Ending Balance (EB) for Case (A) can be calculated as follows:
Beginning balance (BB) = $32,000
Deposits (D) = $22,000
Withdrawals (W) = $12,000
EB = BB + D - W
= $32,000 + $22,000 - $12,000
= $42,000 - $12,000
= $30,000 + $8,320 (interest)
= $38,320
Therefore, the best choice is option D, which is the correct Ending Balance (EB) for Case (A).

For Case (A)above,what Is the Ending Balance (EB)