Answered: In 2019 Gilbert Corporation had cash…

In 2019 Gilbert Corporation had cash receipts of $42,000 and cash disbursements of $25,000. Gilbert's ending cash balance at December 31, 2019, was $60,000. What was Gilbert's beginning cash balance?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 6MC: Selected information from Brook Corporations accounting records and financial statements for 2019...

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Question

Gilbert's ending cash balance at December 31, 2019, was $60,000.

In 2019 Gilbert Corporation had cash receipts of
$42,000 and cash disbursements of $25,000.
Gilbert's ending cash balance at December 31,
2019, was $60,000. What was Gilbert's beginning
cash balance?

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