Montego Companys Cash account had a balance of $14,000 on January 1. Analysis of the companys Cash
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Question:
Montego Company’s Cash account had a balance of $14,000 on January 1. Analysis of the company’s Cash account during the year revealed the following information:
Receipts from customers | $ 50,000 |
---|---|
Payments for dividends | 10,000 |
Receipts of dividends | 5,000 |
Payments for merchandise | 25,000 |
Receipts from issuance of stock | 20,000 |
On December 31, calculate the company’s Cash account balance.
Related Book For
Financial Accounting an introduction to concepts, methods and uses
ISBN: 978-0324789003
13th Edition
Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis
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