The Balances for the Accounts of Mike's Maintenance, Inc Calculate the Correct Balance for Cash and Prepare a Trial

question 168

Essay

The balances for the accounts of Mike's Maintenance, Inc. for the year ended December 31 are shown below. Each account shown had a normal balance.
$\begin{array}{|l|r|l|r|}\hline\text { Accounts payable } & \$ 6,500 & \text { Wages expense } & \$ 36,000 \\\hline \text { Accounts receivable } & 7,000 & \text { Rent expense } & 6,000 \\\hline \text { Cash } & ? & \text { Retained earnings } & 68,700 \\\hline \text { Maintenance supplies } & 1,200 & & \\\hline \text { Building } & 125,000 & \text { Land } & 50,000 \\\hline \text { Supplies expense } & 21,500 & \text { Unearned maintenance fees } & 4,000 \\\hline \text { Common stock } & 50,000 & & \\\hline \text { Maintenance revenue } & 175,000 & \text { Dividends } & 48,000\\\hline\end{array}$ Calculate the correct balance for Cash and prepare a trial balance.

Differentiate between types of premises visitors and their legal implications.

Define and execute initial steps in legal research effectively.

Recognize the importance of working efficiently as a paralegal to contribute to reasonable client billing.

Understand how to define and prioritize research issues in legal cases.

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Definitions:

Ardipithecus

One of the earliest genera of bipeds that lived in eastern Africa. Ardipithecus is actually divided into two species, the older of which dates to between 5.2 and 5.8 million years ago, and the younger, A. ramidus, dated to around 4.4 million years ago.

Spinal Column

The flexible longitudinal column made of a series of bones called vertebrae, which houses the spinal cord and provides structural support to the body.

Adult Human

An individual who has reached a mature stage of growth and development, typically considered to begin after adolescence.

Chimpanzee

A species of great ape native to the forests and savannahs of tropical Africa, known for their complex social structures and behaviors.