Answer:
The balance on the building account is $44,200
Explanation:
The total value of the right hand side must equal the left hand side of a balance sheet. This means the total asset must equal liability plus shareholder equity.
Total Asset $
Equipment 34,800
Accounts receivable 4,550
Land 34,700
Buildings ?
Cash 14,750
88,800
Total Liability and Equity $
Accounts payable 28,300
Unearned service revenue 9,700
Stockholder's equity 95,000
Total Liability and Equity 133,000
Buildings = Total Liability and Equity - Total Asset
= $133,000 - $88,800 = $44,200
The balance on the building account is $44,200
