BRIEF EXERCISE 7-11 Tracking Cash Collections and Disbursements [LO2- CC6, 8, 13] The following information relates to The Gardens Inc. for July of this year: Opening cash balance Depreciation expense Dividends declared Cash collections Equipment, loss on sale (original cost $14,000) Cash operating expenses Cash purchases of merchandise Required: What will be the company's cash balance on July 317 Assume current book value of equipment is $15,000. $10,000 5,000 7,000 34,000 4,000 15,000 25,000
BRIEF EXERCISE 7-11 Tracking Cash Collections and Disbursements [LO2- CC6, 8, 13] The following information relates to The Gardens Inc. for July of this year: Opening cash balance Depreciation expense Dividends declared Cash collections Equipment, loss on sale (original cost $14,000) Cash operating expenses Cash purchases of merchandise Required: What will be the company's cash balance on July 317 Assume current book value of equipment is $15,000. $10,000 5,000 7,000 34,000 4,000 15,000 25,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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![BRIEF EXERCISE 7-11
Tracking Cash Collections and Disbursements [LO2- CC6, 8, 13]
The following information relates to The Gardens Inc. for July of this year:
Opening cash balance
Depreciation expense
Dividends declared
Cash collections
Equipment, loss on sale (original cost $14,000)
Cash operating expenses
Cash purchases of merchandise
Required:
What will be the company's cash balance on July 31? Assume current book value of equipment is $15,000.
$16,000
5,000
7,000
34,000
4,000
15,000
25,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe78133b7-0d99-4ea8-8df6-08fe4e53086c%2F2dd3a854-ef28-4c8a-abd6-93bc48ef85e0%2F2r1zjwl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:BRIEF EXERCISE 7-11
Tracking Cash Collections and Disbursements [LO2- CC6, 8, 13]
The following information relates to The Gardens Inc. for July of this year:
Opening cash balance
Depreciation expense
Dividends declared
Cash collections
Equipment, loss on sale (original cost $14,000)
Cash operating expenses
Cash purchases of merchandise
Required:
What will be the company's cash balance on July 31? Assume current book value of equipment is $15,000.
$16,000
5,000
7,000
34,000
4,000
15,000
25,000
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