I need questions answers 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:Formula Cash balance at the beginning of = Closing balance at the end - cash receipts + cash…

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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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