the accounts payable account of waterford, inc. has the following postings: accounts payable 16,000 28,000 9,000 14,000 calculate the ending balance of the account.

Accounts payable is a liability of the business. This account receives credit when we purchase anything from a supplier on credit, and it receives a debit when we pay the supplier, receive a purchase allowance, or return something to the provider.

The closing balance, or balancing amount, is displayed on the ledger's debit side if the ledger's credit side is greater than its debit side, and vice versa.

Total of the credit side of the accounts payable account = 28000 + 14000 = 42000

Total of the debit side of the accounts payable account = 16000 + 9000 = 25000

Since the credit side is greater than the debit side so accounts payable will have a credit balance of = 42000 - 25000 = 17000

Hence, the final balance of Waterford inc. is 17000 credit

Learn more about accounting:

https://brainly.com/question/24261944

#SPJ4

the accounts payable account of​ waterford, inc. has the following​ postings: accounts payable 16,000 28,000 9,000 14,000 calculate the ending balance of the account.

Respuesta :

Otras preguntas

the accounts payable account of waterford, inc. has the following postings: accounts payable 16,000 28,000 9,000 14,000 calculate the ending balance of the account.