Question

Blue Enterprises had several transactions this month, as listed below. If the beginning balance of the Cash account was $437,000, what is the balance of the Cash account at the end of the month?

1. Purchased equipment for $12,000 (paid $4,000 up-front with the rest on credit)
2. Brought in revenues of $118,000 (60% of purchases on credit)
3. Paid expenses of $98,000
4. Purchased supplies for $42,000 (80% purchased on credit)
5. Received payment for sales on credit in the past of $51,500

Answer 1

B A 1 Particulars 2 Beginning balance of cash 3 Less: Cash paid for equipment 4 Add: Cash sales 5 Less: Cash paid for expenses 6 Less: Cash paid for supplies 7 Add: Collection of accounts receivables 8 Cash at the end of the month Amount $ 437,000 $ 4,000 $ 47,200 $ -98,000 $ -8,400 $ 51,500 $ 425,300

B A 1 Particulars Amount 2 Beginning balance of cash 437000 3 Less: Cash paid for equipment -4000 4 Add: Cash sales =118000*(100%-60%) 5 Less: Cash paid for expenses -98000 6 Less: Cash paid for supplies --42000*(100%-80%) 7 Add: Collection of accounts receivables 51500 8 Cash at the end of the month |=SUM(B2:37)