Question

Carlisle Transport had $4,716 cash at the beginning of the period. During the period, the firm collected $1,517 in receivables, paid $2,182 to supplier, had credit sales of $5,351, and incurred cash expenses of $500. What was the cash balance at the end of the period

Answer 1

the cash balance at the end of the period is $3,551

Step-by-step explanation:

The computation of the cash balance at the end of the period is shown below:

= Cash Balance at beginning of the period + received from receivables - paid to suppliers- cash expenses

= $4,716 + $1,517 - $2,182 - $500

= $3,551

Hence, the cash balance at the end of the period is $3,551

The above formula should be used for the same