Question
5.What would be the account balance in the Cash account after the following transactions, assuming a zero beginning balance? Owner invested cash. $130,000 Purchased supplies
5.What would be the account balance in the Cash account after the following transactions, assuming a zero beginning balance?
Owner invested cash.
$130,000
Purchased supplies with cash.
$34,000
Received bill for one month of rent.
$3,600
Paid wages.
$1,400
Billed customer for services performed services performed.
$2,250
$171,250
$94,600
$93,250
$96,850
$95,950
Top of Form
6.A company had the following account balances at year-end:
Cash
$40,150
Accounts receivable
43,200
Accounts payable
27,000
Fees earned
87,750
Rent expense
20,250
Insurance expense
6,550
Supplies
6,750
Common stock
6,750
Retained earnings
19,700
Dividends
24,300
If all of the accounts have normal balances, what are the total debits on the trial balance?
$141,200
$60,600
$251,350
$282,400
$90,100
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started