Analysis reveals that a company had a net increase in cash of $20,220 for the cu

Question

Analysis reveals that a company had a net increase in cash of $20,220 for the current year. Net cash provided by operating activities was $18,200; net cash used in investing activities was $10,100 and net cash provided by financing activities was $12,120. If the year-end cash balance is $24,300, the beginning cash balance was:

:

:

Analysis reveals that a company had a net increase in cash of $20,220 for the current year. Net cash provided by operating activities was $18,200; net cash used in investing activities was $10,100 and net cash provided by financing activities was $12,120. If the year-end cash balance is $24,300, the beginning cash balance was:

Explanation / Answer

Net Increase in Cash = Year-end Cash - Year Beginning Cash

20,220 = 24,300 - Year Beginning Cash

Year Beginning Cash = $4,080

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