Question

During the month of February, Victor Services had cash receipts of $8,400 and cash disbursements of $10,400. The February 28 cash balance was $3,600. What was the February 1 beginning cash balance?

Answer 1

Answer:

$5,600

Explanation:

Calculation for the beginning cash balance

Using this formula

Beginning cash balance=Cash Balance - Cash Receipts + Cash Disbursements

Let plug in the formula

Beginning cash balance=$3,600-$8,400+$10,400

Beginning cash balance=$5,600

Therefore the Beginning cash balance will be $5,600