Question

In 2022, Cooke Corporation had cash receipts of $46,000 and cash disbursements of $22,000. Cooke's ending cash balance at December 31, 2022, was $78,000. What was Cooke's beginning cash balance

Answer 1

Cooke Corporation's beginning cash balance for 2022 was calculated to be $54,000, using the accounting equation which balances ending cash, cash receipts, and cash disbursements.

Step-by-step explanation:

The student is asking to calculate the beginning cash balance of Cooke Corporation for the year 2022. To find the beginning cash balance, we use the basic accounting equation which states that the ending balance is the sum of the beginning balance and cash receipts, minus cash disbursements.

The accounting equation for this scenario is:

Ending Cash Balance = Beginning Cash Balance + Cash Receipts - Cash Disbursements.

Given that the ending cash balance is $78,000, cash receipts are $46,000, and cash disbursements are $22,000, we can rearrange the equation to solve for the beginning cash balance:

Beginning Cash Balance = Ending Cash Balance - Cash Receipts + Cash Disbursements = $78,000 - $46,000 + $22,000 = $54,000.

Therefore, Cooke Corporation's beginning cash balance for 2022 was $54,000.

Answer 2

54,000,000

Step-by-step explanation:

Straight to the point