edford Corp. began the year with $13,500 in cash and another $8,500 in cash equivalents. During the year, operations generated $140,000 in cash. Net cash used in investing activities during the year was $210,000, and the company raised a net amount of $180,000 from financing activities. Determine the year-end balance in cash and cash equivalents.
edford Corp. began the year with $13,500 in cash and another $8,500 in cash equivalents. During the year, operations generated $140,000 in cash. Net cash used in investing activities during the year was $210,000, and the company raised a net amount of $180,000 from financing activities. Determine the year-end balance in cash and cash equivalents.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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edford Corp. began the year with $13,500 in cash and another $8,500 in cash equivalents. During the year, operations generated $140,000 in cash. Net cash used in investing activities during the year was $210,000, and the company raised a net amount of $180,000 from financing activities.
Determine the year-end balance in cash and cash equivalents.
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