During February 2014, its first month of operations, the owner of Alona Enterprises invested cash of $75,000. Alona had cash revenues of $12,000 and paid expenses of $21,000. Assuming no other transactions impacted the cash account, what is the balance in Cash at February 28?
A) $9,000 credit
B) $66,000 debit
C) $87,000 debit
D) $54,000 credit

Question

Quizplus · Accepted Answer

The cash balance at February 28 is $66,000 debit. This is calculated by adding the beginning cash balance of $75,000 to the cash revenues of $12,000 and subtracting the cash expenses of $21,000.

During February 2014, Its First Month of Operations, the Owner