Anderson Construction Corporation builds foundations for buildings and parking lots. The following alphabetical list shows Anderson Constructions

Question:

Anderson Construction Corporation builds foundations for buildings and parking lots. The following alphabetical list shows Anderson Construction’s account balances as of April 30, 2011:

Accounts Payable …………………….. $ 1,950

Accounts Receivable ………………….         5,060

Cash …………………..……………….         ?

Common Stock ………..……………… 15,000

Dividends ………..……………………          3,900

Equipment ………..……………………  13,350

Notes Payable ………..……………….. 10,000

Rent Expense ………..………………… $3,600

Retained Earnings ………..……………        5,000

Revenue Earned ………..………………       8,700

Supplies ………..………………………       3,250

Utilities Expense ………………………         210

Wages Expense ……………………….         4,400


REQUIRED

Insert the account title at the top of its corresponding T account and enter the dollar amount as a normal balance in the account. Determine the balance of Cash and then show that the accounting equation is in balance.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-0538476010

11th edition

Authors: Belverd E. Needles, Marian Powers

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