Question

Mike owns a skate shop. He is preparing the cash flow statement for his first year of
operation. He had a beginning cash balance of $4,800, $103,000 in total cash sales,
$3,500 for utilities, $2,600 in loan payments, and $5,500 for marketing cost. What
is Mike's ending cash balance?
FORMULA
Ending Cash Balance = Beginning Cash + Cash Inflow - Cash Outflow
Type a comma to separate the digits and type the $ symbol as shown below:
Example: $32,100

Answer 1

Based on the information given Ending Cash Balance  is $96,200.

Ending Cash Balance

Using this formula

Ending Cash Balance = Beginning Cash + Cash Inflow - Cash Outflow

Where:

Beginning Cash=$4,800

Cash Inflow =$103,000

Cash Outflow=$3,500+ $2,600+ $5,500 =$11,600

Let plug in the formula

Ending Cash Balance =$4,800+$103,000-($3,500+ $2,600+ $5,500 )

Ending Cash Balance =$4,800+$103,000-$11,600

Ending Cash Balance =$96,200

Inconclusion the Ending Cash Balance  is $96,200.

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