Relax Company reported the balances listed below for the year ending 31 December Year 2. Prepare a Balance Sheet to determine the balance for cash account for year 2.   Tranportation Equipment $   40,000 Cash ??? Land $ 150,000 Stockholders' equity $ 120,000 Accounts payable $   28,000 Retained earnings $   60,000 Accounts receivable $   12,000 Furniture and equipment $   15,000 Notes payable $   25,000  Rent expense  $   80,000   Group of answer choices $ 56,000 $ 28,000 $ 16,000 $ 36,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Relax Company reported the balances listed below for the year ending 31 December Year 2. Prepare a Balance Sheet to determine the balance for cash account for year 2.

 

Tranportation Equipment

$   40,000

Cash

???

Land

$ 150,000

Stockholders' equity

$ 120,000

Accounts payable

$   28,000

Retained earnings

$   60,000

Accounts receivable

$   12,000

Furniture and equipment

$   15,000

Notes payable

$   25,000

 Rent expense

 $   80,000

 

Group of answer choices
$ 56,000
$ 28,000
$ 16,000
$ 36,000
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