Use the following information to calculate ending balance of cash: Details Amoun
ID: 2484776 • Letter: U
Question
Use the following information to calculate ending balance of cash:
Details
Amounts
Net income
77,000
Cash at the beginning of the year
6,000
Beginning balance of receivables
62,000
Ending balance of receivables
72,000
Beginning balance of payables
16,000
Ending balance of payables
12,000
Depreciation expense
1,200
Purchasing trading stocks
3,000
Selling used equipment
6,000
Issuing bonds
10,000
Purchasing new machine
10,000
Paying dividends
4,000
Details
Amounts
Net income
77,000
Cash at the beginning of the year
6,000
Beginning balance of receivables
62,000
Ending balance of receivables
72,000
Beginning balance of payables
16,000
Ending balance of payables
12,000
Depreciation expense
1,200
Purchasing trading stocks
3,000
Selling used equipment
6,000
Issuing bonds
10,000
Purchasing new machine
10,000
Paying dividends
4,000
Explanation / Answer
Payables account
Cash payment to payables
7,000
Beginning balance
16,000
Ending balance
12,000
Purchasing trading stocks
3000
19,000
19,000
Net Income
77000
Add-
Purchase
3000
Add-
Depreciation
1200
Add-
Dividend
4000
Less-
Selling used equipment
6000
Sales
79200
Receivables account
Beginning balance
62,000
Cash Received from receivables
69,200
Sales
79,200
Ending balance
72,000
Net Income
77000
Add-
Depreciation
1200
less-
Dividend
4000
Cash income
74200
Cash at the beginning of the year
6000
Add-
Cash Received from receivables
69200
Add-
Cash received on issuing bonds
10,000
Add-
Cash income
74200
Less-
Cash payment on purchase of machinery
10,000
Cash at the end of the year
1,49,400
Payables account
Cash payment to payables
7,000
Beginning balance
16,000
Ending balance
12,000
Purchasing trading stocks
3000
19,000
19,000
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