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The Balances for the Accounts of Milo's Management Co

Question 249

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The balances for the accounts of Milo's Management Co.for the year ended December 31 are shown below.Each account shown had a normal balance.
 Accounts Payable ..... $6,500 Wages Expense ......... 36,000 Accounts Receivable... 7,000 Rent Expense .......... 6,000 Cash ............... ? Office Supplies. 1,200 Building ............. 21,500 Land .................. 50,000 Supplies Expense ...... 118,70 Unearned Management Fees 4,000 Common Stock......... 175,00 Dividends 48,000\begin{array} { | l | l | l | } \hline \text { Accounts Payable ..... } & \$ 6,500 &\text { Wages Expense ......... } & 36,000 \\\hline \text { Accounts Receivable... } & 7,000& \text { Rent Expense .......... } & 6,000 \\\hline \text { Cash ............... } & ? & \\\hline \text { Office Supplies. } & 1,200 & \\\hline \text { Building ............. } & 21,500& \text { Land .................. } & 50,000 \\\hline \text { Supplies Expense ...... } & 118,70& \text { Unearned Management Fees } & 4,000 \\\hline \text { Common Stock......... } & 175,00 &\text { Dividends } & 48,000 \\\hline\end{array}

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