Melody Instruments,Inc Determine the Balance in the Cash Account and Prepare the Business,Melody

question 109

Essay

Melody Instruments,Inc.sells musical instruments.On December 31,2017,after its first month of business,Melody Instruments,Inc.had the following balances in its accounts,listed alphabetically.
$$\begin{array} { | l | r | } \hline \text { Accounts Receivable } & \$ 5,000 \\\hline \text { Accounts Payable } & 15,000 \\\hline \text { Advertising Expense } & 2,000 \\\hline \text { Building } & 16,500 \\\hline \text { Cash } & 50,000 \\\hline \text { Common Stock } & 1,200 \\\hline \text { Dividends } & 2,000 \\\hline \text { Equipment } & 70,000 \\\hline \text { Land } & 60,000 \\\hline \text { Notes Payable } & 3,400 \\\hline \text { Office Supplies } & \\\hline &\\\hline \text { Salaries Expense } & 4,000 \\\hline \text { Service Revenue } &72,000 \\\hline \text { Utilities Expense } & 4,100 \\\hline\end{array}$$ Determine the balance in the cash account and prepare the trial balance.

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Definitions:

Crystallized Intelligence

Represents the facet of intelligence involving the ability to use learned knowledge and experience.

Capital

The wealth, whether in money or assets, that is used or invested to generate more wealth.

Gardner's Theory

Refers to Howard Gardner's theory of multiple intelligences, which proposes that people have different kinds of intelligences, such as linguistic, logical-mathematical, and musical, among others.

Linguistic

Pertains to language, including its structure, use, and the study of how words and their construction create meaning.