Question

The following activities occurred in 2019: Performed advertising services on account, $55,000. Received cash payments on account, $10,400. Received deposits from customers for advertising services to be performed in 2020, $2,500. Made payments to suppliers on account, $5,000. Incurred $45,000 of operating expenses; $39,000 was paid in cash and $6,000 was on account and unpaid as of the end of the year. What is the balance in the Cash account at December 31, 2019?

Answer 1

THe cash account balance is for 10,416 dollars

Step-by-step explanation:

We arew going to solve this by doing a cash T-account:

Cash

Debit Credit

41,516 (beginning balance)

10,400 (from payment of sales on account)

2,500 (from unearned services)

5,000 (payment to suppliers)

39,000 (expensed paid)

____________

54,416 44,000

10,416