During February 2011, its first month of operations, the owner of Alona Enterprises invested cash of $50,000. Alona had cash revenues of $8,000 and paid expenses of $14,000. Assuming no other transactions impacted the cash account, what is the balance in Cash at February 28?$6,000 credit.$44,000 debit.$58,000 debit.$36,000 credit.

Given, Cash invested = $50,000 Cash revenues = $8,000 Cash expenses = $14,000

Answered: During February 2011, its first month…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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During February 2011, its first month of operations, the owner of Alona Enterprises invested cash of $50,000. Alona had cash revenues of $8,000 and paid expenses of $14,000. Assuming no other transactions impacted the cash account, what is the balance in Cash at February 28?
$6,000 credit.
$44,000 debit.
$58,000 debit.
$36,000 credit.

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