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

Question

Quizplus · Accepted Answer

The Answer of 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) $40,000.
B) $4,000.
C) $44,000.
D) $39,000.
E) $16,000.

Analysis Reveals That a Company Had a Net Increase in Cash