Question

Analysis reveals that a company had a net increase in cash of $20,330 for the current year. net cash provided by operating activities was $18,300; net cash used in investing activities was $10,150 and net cash provided by financing activities was $12,180. if the year-end cash balance is $24,450, the beginning cash balance was:

Answer 1

The beginning cash balance can be calculated by subtracting the net increase in cash from the year-end cash balance. In this scenario, the beginning cash balance is $4,120.

Step-by-step explanation:

To find the beginning cash balance for the company, we need to consider the net increase in cash and the year-end cash balance. The net increase in cash is given as $20,330, which is the result of the net cash provided by operating activities of $18,300, less the net cash used in investing activities of $10,150, plus the net cash provided by financing activities of $12,180.

The formula to calculate the beginning cash balance is:

Beginning Cash Balance = Year-End Cash Balance - Net Increase in Cash

Therefore:

Beginning Cash Balance = $24,450 - $20,330

Beginning Cash Balance = $4,120

The beginning cash balance for the company was $4,120.

Answer 2

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Step-by-step explanation: