Business, 24.03.2020 23:02 dmperez1213

The following T accounts show transactions that were recorded by Residential Relocators, a firm that specializes in local housing rentals. The entries for the first transaction are labeled with the letter (a), the entries for the second transaction with the letter (b), and so on.

Cash Equipment Account Receivable
(a) 95,000 (d) 15,000 (g) 1,500 (b) 23,000 (e) 350 (h) 5,500 (i) 2,500 (c)40,000 (f) 5,000 (g) 1,500
Accounts Payable Supplies Wade Wilson, Capital
(c) 40,000 (b) 23,000 (a) 95,000
Fees Income Telephone Expense Wade Wilson, Drawing
(d) 15,000 (f) 5,000 (e)350 (i) 2,500
Salaries Expense
(h)5,500

Required:
Determine the balance account.

Answers: 2

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Answers

Answer from: jessicabestard0607

Balance Sheet

Assets

Cash Balance 80,150

Equipment 40,000

Account Receivable 3,500

Supplies 23,000

Total Assets 146,650

Capital & Liabilities

Capital (Wade Wilson) 95,000

Drawings (Wade Wilson)(2,500)

Net Capital 92,500

Fees Income 20,000

Expenses (5500+350) (5,850)

Net Income 14,150

Accounts Payable 40,000

Total Capital & liabilities 146,650

Explanation:

Trial Balance $ $

Cash Balance 80,150

Equipment 40,000

Account Receivable 3,500

Accounts Payable 40,000

Supplies 23,000

Capital (Wade Wilson) 95,000

Fees Income 20,000

Telephone Expense 350

Drawings (Wade Wilson) 2500

Salaries 5500

Total 155,000 155,000

Balance Sheet

Assets

Cash Balance 80,150

Equipment 40,000

Account Receivable 3,500

Supplies 23,000

Total Assets 146,650

Capital & Liabilities

Capital (Wade Wilson) 95,000

Drawings (Wade Wilson)(2,500)

Net Capital 92,500

Fees Income 20,000

Expenses (5500+350) (5,850)

Net Income 14,150

Accounts Payable 40,000

Total Capital & liabilities 146,650

Answer from: Quest

the answer is a. $209,000

Answer from: Quest

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The following T accounts show transactions that were recorded by Residential Relocators, a firm that...

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