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Gumbo Company had the following transactions during the month of December. What was the December 1 cash balance?

Gumbo Company had the following transactions during the month of December. What was the December 1 cash balance?

FINANCIAL ACCOUNTING
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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Hello! I'm a little confused about this problem do I just divide cash flow on December 31st by 31 days and that's the answer? Thank you!

Gumbo Company had the following transactions during the month of December. What was the December 1 cash balance? Dividends paid Credit sales $ 221 149 Payments for equipment Taxes paid Common stock sold 1,496 2,032 2,550 2,125 2,763 9,869 Inventory received Cash sales Cash balance Dec. 31
Transcribed Image Text:Gumbo Company had the following transactions during the month of December. What was the December 1 cash balance? Dividends paid Credit sales $ 221 149 Payments for equipment Taxes paid Common stock sold 1,496 2,032 2,550 2,125 2,763 9,869 Inventory received Cash sales Cash balance Dec. 31
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