Question

In 2020, Marigold Corporation had net cash provided by operating activities of $480,000, net cash used by investing activities of $896,000, and net cash provided by financing activities of $532,000. At January 1, 2020, the cash balance was $341,000. Compute December 31, 2020, cash.

Answer 1

Cash at 31 December 2020 is $ 457,000.00

Step-by-step explanation:

The cash balance as the end of year December 31 2020 is the net cash provided by operating activities, minus net cash used by investing activities plus net cash provided by financing activities plus the beginning cash balance as at January 1 2020.

Net cash provided by operating activities is $480,000

net cash used by investing activities is $896,000

net cash provided by financing activities is $532,000

beginning cash balance is $341,000

closing cash balance=$480,000-$896,000+$532,000+$341,000=$457,000.00