In 2023, Thompson Industries had cash receipts of $83,500 and cash disbursements of $67,200. Thompson's cash balance at December 31, 2023 was $124,700. What was Thompson's January 1, 2023 cash balance?
In 2023, Thompson Industries had cash receipts of $83,500 and cash disbursements of $67,200. Thompson's cash balance at December 31, 2023 was $124,700. What was Thompson's January 1, 2023 cash balance?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:In 2023, Thompson Industries had cash receipts of
$83,500 and cash disbursements of $67,200.
Thompson's cash balance at December 31, 2023 was
$124,700. What was Thompson's January 1, 2023 cash
balance?
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