rogersdanny7165 rogersdanny7165

09-06-2022
Business

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Analysis reveals that a company had a net increase in cash of $20,000 for the current year. Net cash provided by operating activities was $18,000; net cash used in investing activities was $10,000 and net cash provided by financing activities was $12,000. If the year-end cash balance is $24,000, the beginning cash balance was:

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chilljain33 chilljain33

21-06-2022

The beginning cash balance of a company for the condition as given above will be around $4,000 for the current year.

What is cash balance?

The amount of cash available in the balance sheet of the company during a given period is known as the cash balance of the company. The balance at the start of the current year is known as beginning cash balance.

Using the formula and the given information, the beginning cash balance can be computed as,

Beginning Cash Balance = Year end Cash Balance – Net Increase

Beginning Cash Balance = $(24,000-20,000)= $4,000

Hence, option A holds true regarding the beginning cash balance. The complete question has been added in the image for better reference.

Learn more about cash balances here:

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