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ashtonsilvers2003
22.08.2019 •
Mathematics
The following normal account balances were found on the general ledger before closing entries were prepared: revenue $800 cash $500 expenses $400 accounts receivable $350 capital $7,500 withdrawals $1,000 after closing entries are posted, what is the balance in the cash account? accounting
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Ответ:
$ 7250
Step-by-step explanation:
Data provided:
Revenue = $800
Cash = $500
Expenses = $400
Accounts Receivable = $350
Capital = $7,500
Withdrawals = $1,000
Balance in the cash account
=(Revenue+Cash + Accounts Receivable + Capital )-(Expenses + Withdrawals)
on substituting the values, we get
Balance in cash account = ( $ 800 + $ 350 + $ 7,500 ) - ( $ 400 + $ 1,000)
or
Balance in cash account = $ 8,650 - $ 1,400 = $ 7250
Ответ: