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The following transactions for the month of March have been journalized and posted to the proper accounts of a sole proprietorship.

Mar. 1 The business received $10,000 cash from the owner of the business, Lemon. The business gave capital to Lemon.
Mar. 2 Paid the first month's rent of $1000.
Mar. 3 Purchased equipment by paying $4000 cash and executing a note payable for $6000.
Mar. 4 Purchased office supplies for $710 cash.
Mar. 5 Billed a client for $11,000 of design services completed.
Mar. 6 Received $7800 on account for the services previously recorded.

Required:
What is the balance in Cash on March 6?

Respuesta :

abiolataiwo2015

Based on the information given the balance in cash in march 6 is $12,090.

Beginning Cash Balance            

Cash received from owner          $10,000

Less Paid rent                              ($1,000)

Less Purchased Equipment        ($4,000)

Less Office Supplies                    ($710)

Received from client                   $7800

Cash balance on March 6           $12,090

Inconclusion  the balance in cash in march 6 is $12,090.

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