Question

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

178,722.00

Depreciation expense

21,600

22,610.00

Interest expense

16,200

16,173.00

Inventories

111,600

115,200

Long-term debt

135,000

138,719.00

Net fixed assets

375,126.00

399,600

Notes payable

59,400

64,800

Operating expenses (excl. depr.)

50,400

69,866.00

Retained earnings

122,400

136,800

Sales

255,600

337,317.00

Taxes

9,900

18,792.00

What is the current year's cash balance?

Solutions

Expert Solution

Cash = total liability and equity - total assets other than cash.

Account Current year
Liabilities and equity
Accounts payable $          45,000
Accruals $          13,500
Additional paid in capital $        216,660
Common stock $          42,000
Current portion of LT debt
Long term debt $        138,719
Note payable $          64,800
Retained earnings $        136,800
Total $        657,479
Assets:
Accounts receivable $        122,400
Inventories $        115,200
Net fixed assets $        399,600
Total assets with out cash $        637,200
Cash (a) - (b) $          20,279

Cash is 20,279 for current year.

please rate.

jeff jeffy answered 2 years ago
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