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I can't figure out the cash line of the trial balance using the information provided, I keep getting 246,000n which is wrong Required intormation [The
I can't figure out the cash line of the trial balance using the information provided, I keep getting 246,000n which is wrong
Required intormation [The following information applies to the questions displayed below.) Athletic Performance Company (APC) was incorporated as a private company. The company's accounts included the following at July 1: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 4,000 200,000 16,000 308,000 18,000 90,000 17,000 5,000 During the month of July, the company had the following activities: a. Issued 2,000 shares of common stock for $200,000 cash. b. Borrowed $30,000 cash from a local bank, payable in two years. C. Bought a building for $141,000; paid $41,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $100,000. e. Purchased supplies for $10,000 on account. 2. Prepare a trial balance at July 31. ATHLETIC PERFORMANCE COMPANY Trial Balance At July 31 Debit $ 387,000 241 non Credit Cash BuildinneStep by Step Solution
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