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In: Accounting

Trio Company’s December 31, Year 2 financial statements reported the following (in millions). Cash December 31...

Trio Company’s December 31, Year 2 financial statements reported the following (in millions).

Cash December 31 $1,132
Cash from operating activities $1,504
Cash from investing activities $(973)
Cash from financing activities $(875)


What did Trio Company report for cash on its December 31, Year 1 balance sheet?

Select one:

a. None of the these are correct.

b. $344 million

c. $2,281 million

d. $1,476 million

e. $788 million

Solutions

Expert Solution

cash balance at the beginning of the year + cash from operating activities + cash from investing activities + cash from financial activities =cash balance at end of the year

therefore ,

cash balance at the beginning of the year = cash balance at the end of the year - cash from operating activities - cash from investing activities - cash from financial activities

=1132 - 1504 - [973] - [875]

= 1132 - 1504 +973 + 875

=$1476 million

therefore cash on December 31st , year 1 balance sheet is $1476 million

ekkarill92 answered 2 years ago
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