Question

The Jordan Company had the following transactions Aug. 3 Owner invested $9,000 to start the company Aug. 7 Purchased $500 of equipment on account Aug. 21 Purchased inventory for $6,000 Aug. 25 Paid $350 for advertising Aug. 30 Sold services of $580 to a customer; sent bill to customer. After the transactions are recorded, what amount of cash would the company have

Answer 1

Based on the various transactions that the Jordan Company had during the month, the amount of cash they would have is $2,500.

What amount of cash Jordan have?

The cash the company would be left with can be found as:

= Cash inflows - Cash outflows

This can be further broken down as:

= Investment - Equipment purchases - Inventory purchase

= 9,000 - 500 - 6,000

= $2,500

The services sold were not added because the bill had just been sent and no payment had been made.

In conclusion, they would have $2,500.

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