Financial accounting In 2014 Grider Corporation had cash receipts of $35,000 andcash disbursements of $20,000. Grider's ending cash balanceat December 31, 2014 was $55,000. What was Grider'sbeginning cash balance?a. $40,000b. $50,000c. $75,000d. $70,000

Step 1: Define Cash Receipts & DisbursementsCash receipts include all the transactions that…

Answered: In 2014 Grider Corporation had cash…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 13MCQ

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On December 31, 2018, Coldstone Company reported net income of $70,000 and sales of $210,000. The company also reported beginning and ending accounts receivable at $20,000 and $25,000, respectively. Coldstone will report cash collected from customers in its 2018 statement of cash flows (direct method) in the amount of: a.$285,000 b.$215,000 c.$135,000 d.$205,000
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Kindly explain why 113,550 is the answer

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In 2014 Grider Corporation had cash receipts of $35,000 and cash disbursements of $20,000. Grider's ending cash balance at December 31, 2014 was $55,000. What was Grider's beginning cash balance? a. $40,000 b. $50,000 c. $75,000 d. $70,000