Answer:
$25,000
Explanation:
Calculation for what the balance in the Cash account should be
First step is to calculate for the Total Assets excluding Cash
Total Assets excluding Cash = $5,000 + $12,000 + $18,000
Total Assets excluding Cash = $35,000
Second step is to find the Total Liabilities & shareholder's equity
Total Liabilities & shareholder's equity = $17,000 + $43,000
Total Liabilities & shareholder's equity == $60,000
Last step is to calculate for the cash balance using this formula
Cash balance = Total Liabilities and shareholder's equity - Total Assets (excluding cash)
Cash balance = $60,000 - $35,000
Cash balance = $25,000
Therefore the balance in the Cash account should be $25,000
