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?
Step by Step Answer:
Introduction to Managerial Accounting
ISBN: 978-1259103261
4th Canadian edition
Authors: Peter C. Brewer, Ray H Garrison, Eric Noreen, Suresh Kalagnanam, Ganesh Vaidyanathan