Foot

Accounting Dictionary

Foot

Add and subtract to get the total.

John started his business by putting $10,000 in his business bank account. He bought a tax software package for $2,000. He did a tax return and deposited his fee of $1,500. If we “foot” or add up John’s T account for cash we will get $10,000 -2,000+1,500 =9,500.

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