Ask Experts Questions for FREE Help !
Ask
    JeanGirl's Avatar
    JeanGirl Posts: 2, Reputation: 0
    New Member
     
    #1

    Jun 25, 2012, 06:05 PM
    balance debit credit
    I just can not figure out who owes who.

    I sold to Ms. X a product for $229,214.

    Ms. X then sold to me a similar product for $456,193
    I then sold another product to Ms. X a new product for $429,529.

    I know there is a difference of $202,550. But do not know who the money belongs to.. . Me or Ms. X; and we want to be at a zero balance with neither owing the other; yet without one or the other profiting.

    Please Help!
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
     
    #2

    Jun 25, 2012, 06:47 PM
    Why does this sound more like homework than a real life problem? If you are dealing with this amount of money you must have an Accountant.

    Ask him/her.
    JeanGirl's Avatar
    JeanGirl Posts: 2, Reputation: 0
    New Member
     
    #3

    Jun 26, 2012, 08:03 PM
    And being homework deserves a serious and truthful reply not a fools comment.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
     
    #4

    Jun 26, 2012, 08:10 PM
    Quote Originally Posted by JeanGirl View Post
    and being homework deserves a serious and truthful reply not a fools comment.
    AMHD doesn't do homework - you might want to read the rules OR post this in the homework section.

    And this particular fool did her homework herself.

    But, anyway, let's see - you sold her $229,214 and $456,193 for a total of $685,407. She sold you $429,529. Would appear her total is higher than yours so she owes you the difference - ? What grade math is this?

    EDIT: I see this OP just bit the hand that fed her. Talk about who is the fool - ? Obviously me because I did her homework for her.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

What side for a revenue account,credit or debit, is its normal balance side? [ 1 Answers ]

Do office supplies normally have a credit or debit balance?

Debit balance [ 1 Answers ]

In trial balanc if an account show debit

What do you mean by debit balance [ 1 Answers ]

What do you mean by debit balance

Trial balance/debit&credits don't balance [ 1 Answers ]

Hi! I have an assignment due tomorrow and am really fustrated I've been working on it since last month and can not figure out where I went wrong I am 52,000 and some odd hundred dollars off on my debits and credits! :eek: if anyone wants to help email me at [email protected]

Debit balance, debit entries, and credit entries [ 1 Answers ]

This is a silly question I'm sure, and the answer is very simple, but it is driving me crazy... The problem is: 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...


View more questions Search