Sheldon has the following year-end account balances: Accounts Receivable, $5,000; Supplies, $12,000; Equipment, $18,000; Accounts Payable, $17,000; Stockholders' Equity, $43,000. The Cash account balance was not available at year-end. Given the account balances listed, the balance in the Cash account should be A : $95,000. B : $43,000. C : $25,000. D : $61,000.

Question

Lara

Business

2 May, 05:40

Sheldon has the following year-end account balances: Accounts Receivable, $5,000; Supplies, $12,000; Equipment, $18,000; Accounts Payable, $17,000; Stockholders' Equity, $43,000. The Cash account balance was not available at year-end. Given the account balances listed, the balance in the Cash account should be A : $95,000. B : $43,000. C : $25,000. D : $61,000.

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Answers (1)

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Rashad Donaldson · Answer 1

the balance in the Cash account should be C : $25,000.

Explanation:

Assets = (Liabilities+Owner's Equity)

Assets = Cash+account receivable+Suplies+Equipment

Cash 25.000

Acoount Receivable 5.000

Supllies 12.000

Equipment 18.000

Assets 60.000

Account Payable 17.000

Liabilities 17.000

Stakholder equity 43.000

Equity 43.000

Liabilities + Equity 60.000