[jnunez]

The balances for the accounts of Mike's maintenance co. for the year ended December 31 are shown below. Each account shown had a normal balance.

Accounts payable $6,500
Accounts receivable 7,000
Cash ?
Maintenance supplies 1,200
Building 125,000
Supplies expense 21,500
Mike capital 118,700
Maintenance revenue 175,000
Wage expense 36,000
Rent expense 6,000
Land 50,000
Unearned maintenance fees 4,000
Mike, Withdrawals 48,000

Calculate the correct balance for Cash and prepare a trial balance

[pready]

Prepare a trial balance.

In a trial balance your debits must equal your credits, therefore the amount of cash is the sum of your credits minus the sum of your debits.