The following information relates to Young Company for September of this year: Opening cash balance . .

Question:

The following information relates to Young Company for September of this year:

Opening cash balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . . $16,000
Depreciation expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,350
Dividends paid. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . 5,750
Cash collections . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35,500
Equipment purchased for cash . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,800
Cash operating expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,900
Merchandise paid for . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,150


Required:

What will be Young’s cash balance on September 30?

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Related Book For  book-img-for-question

Introduction to Managerial Accounting

ISBN: 978-1259103261

4th Canadian edition

Authors: Peter C. Brewer, Ray H Garrison, Eric Noreen, Suresh Kalagnanam, Ganesh Vaidyanathan

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