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Homework answers / question archive / Calculate the missing cash at bank account balance from these balance sheet items
Calculate the missing cash at bank account balance from these balance sheet items.
Equity $5,700
Debtors $890
Creditors $450
Inventory $360
Loan to a friend $1,400
(a) $3,500
(b) $2,600
(c) $5,400
(d) $6,300
The cash balance is $3,500 (A)
Asset | = | Liabilities | + | Equity |
---|---|---|---|---|
360 | 450 | 5,700 | ||
890 | ||||
1,400 | ||||
2650 | 450 | 5,700 |
Since the accounting equation does not show equal balance. The difference will be the balance of cash.
(5,700 + 450) - 2,650 = $3,500