During February 2018 its first month of operations, the stockholders of Ariel Pink Enterprises invested cash of $50,000. Ariel had cash revenues of $10,000 and paid expenses of $14,000. Assuming no other transactions impacted the cash account, what is the balance in Cash at February 28?
A) $4,000 credit
B) $4,000 debit
C) $46,000 debit
D) $54,000 debit

Question

Quizplus · Accepted Answer

The initial cash investment was $50,000. Ariel had cash revenues of $10,000, increasing cash to $60,000. Expenses paid were $14,000, reducing cash to $46,000. Thus, the balance in Cash at February 28 is $46,000 debit.

During February 2018 Its First Month of Operations, the Stockholders