Question

In 2020, Elbert Corporation had net cash provided by operating activities of $531,000, net cash used by investing activities of $963,000, and net cash provided by financing activities of $585,000. At January 1, 2020, the cash balance was $333,000. Compute December 31, 2020, cash.

Answer 1

$486,000

Step-by-step explanation:

Elbert Corporation

Cashflow Statement for the year ended December 31, 2020.

Cash flow from Operating Activities

Net cash provided by operating activities $531,000

Cash flow from Investing Activities

Net cash used by investing activities ($963,000)

Cash flow from Financing Activities

Net cash provided by financing activities $585,000

Movement during the year $153,000

Beginning Cash and Cash Equivalent $333,000

Ending Cash and Cash Equivalent $486,000

Therefore, December 31, 2020, cash balance is $486,000