Presented below are the ending balances of accounts for the kansas instruments corporation at december 31, 2021. account title debits credits cash $ 36,000 accounts receivable 162,000 raw materials 40,000 notes receivable 116,000 interest receivable 19,000 interest payable $ 21,000 investment in debt securities 48,000 land 66,000 buildings 1,620,000 accumulated depreciation—buildings 636,000 work in process 58,000 finished goods 105,000 equipment 332,000 accumulated depreciation—equipment 146,000 patent (net) 136,000 prepaid rent (for the next two years) 76,000 deferred revenue 52,000 accounts payable 196,000 notes payable 560,000 restricted cash (for payment of notes payable) 96,000 allowance for uncollectible accounts 29,000 sales revenue 1,120,000 cost of goods sold 466,000 rent expense 44,000 additional information: the notes receivable, along with any accrued interest, are due on november 22, 2022. the notes payable are due in 2025. interest is payable annually. the investment in debt securities consist of treasury bills, all of which mature next year. deferred revenue will be recognized as revenue equally over the next two years. required: determine the company’s working capital (current assets minus current liabilities) at december 31, 2021. (amounts to be deducted should be indicated by a minus sign.)

Fred smithers, a recent college graduate decided to open his own portable juice bar, smithers smoothies, to wheel around newport beach. you, a trusted friend of fred, are a business major that has also recently graduated and agreed to handle the books for a while to get some practical experience and have a favor that you can ask of fred in the future. given the following five transactions concerning the new venture, prepare the necessary journal entries for the transactions, post the journal entries to appropriate t accounts and prepare a trial balance as of the end of the month in order to answer to the necessary may 2: fred invests $12,000 of his own money to start the new company. this money was obtained from a part-time job working at a legal firm while he was in school. may 3: fred spent $5,100 cash to purchase a refrigerated trailer that he can pull behind his car and set up at the beach. under your advice, fred agrees to place the new asset under an account called "equipment." may 6: fred bought $640 of supplies on account from the flav-o-rite confectioners company. because they will last longer than a single accounting period fred agrees to record them as, "supplies" as per your suggestion. may 13: fred sat on the beach for six hours without a single sale and was feeling very down. right before he left, however, a plumber escorting his family reunion along the beach stopped by his stand and bought $800 worth of smoothies for the entire family. under your advice, fred agrees to call this cash revenue, "sales." may 15: excited about his new venture, fred withdraws $350 from the company to take his girlfriend out to dinner. what would be the balance in the cash account at the end of the period following the posting of all the transactions?