Question

In 2022, Cooke Corporation had cash receipts of $46,000 and cash disbursements of $22,000. Cooke's ending cash balance at December 31, 2022, was $78,000. What was Cooke's beginning ca

Answer 1

Based on the information given Cooke's beginning cash balance is $54,000.

Beginning cash balance:

Using this formula

Beginning cash balance=Ending cash balance-Cash receipts+Cash disbursements

Where:

Ending cash balance=$78,000

Cash receipts=$46,000

Cash disbursements=$22,000

Let plug in the formula

Beginning cash balance=$78,000-$46,000+$22,000

Beginning cash balance=$54,000

Inconclusion Cooke's beginning cash balance is $54,000.

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