Question: Based on the information in the table below, what is the companys ending cash balance at the end of the year? Beginning cash balance $80,000
Based on the information in the table below, what is the companys ending cash balance at the end of the year?
| Beginning cash balance | $80,000 |
| Activities during the year | |
| Decrease in Accounts Payable | $20,000 |
| Decrease in Accounts Receivables | $10,000 |
| Depreciation Expense | $15,000 |
| Net Income | $90,000 |
| Sale of fixed assets | $50,000 |
| Sale of common stock | $30,000 |
| Decrease in Notes Payable | $40,000 |
| Dividends Paid | $60,000 |
Answer options : A- $175,000 , B- $155,000, C -$135,000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
