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:

Existing Building

A structure that has been previously erected and is used or suitable for use in a particular function or occupancy.

Ready Land

Land that has been developed or prepared for construction or agricultural use, often including improvements like utility connections or cleared terrain.

Land Improvements

Enhancements made to land such as landscaping, fencing, and lighting that increase the property's value.

Outdoor Lighting

Lighting specifically designed for exterior spaces, such as streets, parks, and residential landscapes to enhance visibility and aesthetics.