Dobber Corporation had the following transactions in its first year of operations Sales (75 percent collected in the first year) $1250000 Disbursements for costs and expenses 600000 Purchases of equipment for cash 200000 Proceeds from issuance of ordinary shares 250000 Payments on short-term borrowings 25,000 Proceeds from short-term borrowings 50,000 Depreciation on equipment 40,000 Disbursements for income taxes 45,000 Bad debt write-offs 30,000 What is the cash balance at December 31 of the first year?
Dobber Corporation had the following transactions in its first year of operations Sales (75 percent collected in the first year) $1250000 Disbursements for costs and expenses 600000 Purchases of equipment for cash 200000 Proceeds from issuance of ordinary shares 250000 Payments on short-term borrowings 25,000 Proceeds from short-term borrowings 50,000 Depreciation on equipment 40,000 Disbursements for income taxes 45,000 Bad debt write-offs 30,000 What is the cash balance at December 31 of the first year?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Dobber Corporation had the following transactions in its first year of operations
| Sales (75 percent collected in the first year) | $1250000 |
| Disbursements for costs and expenses | 600000 |
| Purchases of equipment for cash | 200000 |
| Proceeds from issuance of ordinary shares | 250000 |
| Payments on short-term borrowings | 25,000 |
| Proceeds from short-term borrowings | 50,000 |
| 40,000 | |
| Disbursements for income taxes | 45,000 |
| 30,000 |
What is the cash balance at December 31 of the first year?
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