Using the Alphabetical List of Account Balances Presented Below,all of Which

question 170

Essay

Using the alphabetical list of account balances presented below,all of which are normal,prepare a trial balance for T.and C.Corporation at June 30,2010,in proper order.Compute the balance of the Cash account.
$\begin{array}{lr}\text { Accounts Payable } & \$ 140 \\\text { Accounts Receivable } & 280 \\\text { Cash } & ? \\\text { Common Stock } & 200 \\\text { Equipment } & 400 \\\text { Office Expense } & 180 \\\text { Retained Earnings } & 240 \\\text { Service Revenue } & 300\end{array}$

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Definitions:

Sale of Goods Act

Legislation governing the sale of goods, ensuring rights, and obligations for both seller and buyer.

Business Transactions

Activities or dealings between parties involving the exchange of goods, services, or financial assets.

Legislation

Laws and statutory regulations enacted by a government's legislative branch.

Durability

The ability of a product or material to withstand wear, pressure, or damage; its quality of being long-lasting or enduring.