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In: Finance

Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16,200 13,500...

Category

Prior year

Current year

Accounts payable

41,400

45,000

Accounts receivable

115,200

122,400

Accruals

16,200

13,500

Additional paid in capital

200,000

216,660

Cash

???

???

Common Stock @ par value

37,600

42,000

COGS

131,400

178,480.00

Depreciation expense

21,600

23,731.00

Interest expense

16,200

16,751.00

Inventories

111,600

115,200

Long-term debt

135,000

137,821.00

Net fixed assets

376,128.00

399,600

Notes payable

59,400

64,800

Operating expenses (excl. depr.)

50,400

65,598.00

Retained earnings

122,400

136,800

Sales

255,600

335,829.00

Taxes

9,900

19,235.00

What is the current year's cash balance? Round to 0 decimal places

Solutions

Expert Solution

Ans:

Let cash for prior year be Y and current year be Z

Prior year Current year
Particulars Debit Credit Debit Credit
Accounts payable 41400 45000
Accounts receivable 115200 122400
Accruals 16200 13500
Additional paid in capital 200000 216660
Cash Y Z
Common stock 37600 42000
COGS 131400 178480
Depreciation expenses 21600 23731
Interest expenses 16200 16751
Inventories 111600 115200
Long term debt 135000 137821
Net Fixed assets 376128 399600
Notes payable 59400 64800
Operating expenses (excluding depreciation) 50400 65598
Retained earnings 122400 136800
Sales 255600 335829
Taxes 9900 19235
Total 832428+Y 867600 940995+Z 992410

Cash balance for current year Z = $ 992,410 - $ 940,995

= $51,415

Cash balance for prior year Y = $ 867,600 - $ 832,428

= $ 35,172

jeff jeffy answered 1 year ago
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