At December 31, Year 1, the accounting records of Braun Corporation contain the following items: Accounts Payable $ 18,000 Accounts Receivable $ 44,000 Land $ 244,000 Cash ? Capital Stock ? Equipment $ 124,000 Building $ 184,000 Notes Payable $ 194,000 Retained Earnings $ 164,000 If Capital Stock is $264,000, what is the December 31, Year 1 cash balance?

Answer rating: 100% (QA)

To find the cash balance we need to use the accounting equation Assets Liab... View the full answer