Using the following transactions, calculate the Charles Co's total cash at the end of the year....

 

Transcribed Image Text:

Using the following transactions, calculate the Charles Co's total cash at the end of the year. • 5,000 cash was invested in the company in return for common shares • The company took out a loan of 3,500 • The company purchased a factory for 4,000 in cash • The company purchased 8,000 worth of inventory, 50% on credit from the suppliers and 50% for cash • The company generated cash sales of 12,000 (from inventory which cost 7,500) The company paid salary expenses of 1,800 in cash Using the following transactions, calculate the Charles Co's total cash at the end of the year. • 5,000 cash was invested in the company in return for common shares • The company took out a loan of 3,500 • The company purchased a factory for 4,000 in cash • The company purchased 8,000 worth of inventory, 50% on credit from the suppliers and 50% for cash • The company generated cash sales of 12,000 (from inventory which cost 7,500) The company paid salary expenses of 1,800 in cash

Answer rating: 100% (QA)

Solution Initial investment 5000 cash invested in return for common shares Total cash 5000 Loan take... View the full answer