Question
You will use this information to answer several questions, so save your work. Given the following information, what is this company's ENDING cash balance in
You will use this information to answer several questions, so save your work. Given the following information, what is this company's ENDING cash balance in 2020?
2019 2020
Beginning Cash Balance 20,000 45,000
Net Income. 65,000 75,000
Accounts Receivable. 10,000. 14,000
Prepaid Rent. 5,000. 6,000
Inventory 22,000 30,000
Accounts Payable. 3,000 2,000
Unearned Revenue 5,000 7,000
Depreciation Expense. 25,000. 40,000
Cash Paid for Dividends. 25,000. 10,000
Cash Received for Loan. 30,000. 40,000
Cash Payment to Repay Loan. 0. 10,000
Cash Payment to Purchase Land10,000 0
Cash Received for Sale of Equipment10,000. 15,000
Loss on Sale of Equipment. 0. 5,000
Cash Received for Issuance of Stock. 0. 10,0000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started