The following information relates to the Monty Company for November 20x5: Cash b
ID: 341445 • Letter: T
Question
The following information relates to the Monty Company for November 20x5:
Cash balance, November 31, 20x5
$23424
Depreciation expense for November
5803
Dividends declared in November
10014
Cash collections for November
73748
Equipment purchased for cash in November
13934
Cash operating expenses in November
30789
Merchandise paid for in November
38029
What is Monty’s cash balance on November 1, 20x5?
Cash balance, November 31, 20x5
$23424
Depreciation expense for November
5803
Dividends declared in November
10014
Cash collections for November
73748
Equipment purchased for cash in November
13934
Cash operating expenses in November
30789
Merchandise paid for in November
38029
Explanation / Answer
Ending balance of cash 23424 Add: Payment made in November Equipment purchased 13934 Cash operating expense 30789 Merchandise paid 38029 Less: Reciepts of November month Cash collections for November -73748 Beginning balance of cash Nov 1 32428 Note: Dividend has been declared not paid.
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