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:
A)$4,000.
B)$16,000.
C)$44,000.
D)$40,000.
E)$39,000.

Question

Quizplus · Accepted Answer

The net increase in cash is $20,000. The net cash provided by operating activities is $18,000, the net cash used in investing activities is $10,000, and the net cash provided by financing activities is $12,000. The beginning cash balance is $24,000 - $20,000 = $4,000.

Analysis Reveals That a Company Had a Net Increase in Cash