The following is a list of accounts and their balances for Benson Company for the month ended June 30, 20xx. Prepare a trial balance in good form. Then answer questions 7 - 10. Cash $1,370 Benson, Withdrawals $ 500

Accounts Payable 770 Accounts Receivable 1,600

Office Equipment 900 Service Fees 2,730

Benson, Capital 1,500 Salaries Expense 630

8. The Benson, Capital account has which of the following balances?

Question 8 options:

Debit balance of $500

Credit balance of $500

Debit balance of $1500

Credit balance of $1500

Sailcloth & more currently produces boat sails and is considering expanding its operations to include awnings for homes and travel trailers. the company owns land beside its current manufacturing facility that could be used for the expansion. the company bought this land 5 years ago at a cost of $319,000. at the time of purchase, the company paid $24,000 to level out the land so it would be suitable for future use. today, the land is valued at $295,000. the company has some unused equipment that it currently owns valued at $38,000. this equipment could be used for producing awnings if $12,000 is spent for equipment modifications. other equipment costing $490,000 will also be required. what is the amount of the initial cash flow for this expansion project?