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    4dQueenbee's Avatar
    4dQueenbee Posts: 1, Reputation: 1
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    #1

    May 31, 2008, 06:51 PM
    Determining an Ending Account Balance
    I need help in determining the end balance of this account below. I have tried an continue to get the wrong answer.

    Wilma's Accounting Services was organized on April 1, 2007. The company received a contribution of $1,700 from each of the three principal owners. During the month, Wilma's Accounting Services provided services for cash of $2,000 and services on the account for $790, received $430 from customers in payment of their accounts, purchased supplies on account for $950 and equipment on account for $1,570, received a utility bill for $270 which will not be paid until July, paid the full amount due on the equipment. What should the company's Cash balance be on April 30, 2007.

    I said that is should be $10,700 but was told that it was wrong.:confused:
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    May 31, 2008, 08:44 PM
    I'm getting $9100, which is a 1600 difference, which means nothing on the surface.

    Can't tell you what you're doing wrong if you don't show how you got $10,700. I will check your work, but I won't do the problem for you.

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