Question

At September 1, 2017, Kern Enterprises reported a cash balance Of $140,000. During the month, Kern collected cash of $60,000 and made disbursements of $100,000. At September 30, 2017, the cash balance is

Answer 1

The ending cash balance for Kern Enterprises as of September 30, 2017, is calculated by adding the cash collected during the month to the starting balance and then subtracting the disbursements. The ending balance is $100,000.

Step-by-step explanation:

The question involves a basic calculation of the cash balance for Kern Enterprises at the end of September 2017. The company reported a starting cash balance of $140,000. During September, they collected $60,000 in cash and made disbursements of $100,000. To calculate the ending cash balance, we need to add the cash collected to the starting balance, and then subtract the disbursements.

The calculation is as follows:

• Starting cash balance: $140,000
• Plus cash collected: $60,000
• Less cash disbursements: $100,000
• Ending cash balance: $140,000 + $60,000 - $100,000 = $100,000

Therefore, the ending cash balance for Kern Enterprises at September 30, 2017, is $100,000.