Answered: In 2023, Witer Corporation had cash…

In 2023, Witer Corporation had cash receipts of $56,000 and cash disbursements of $32,000. Witer's cash balance at December 31, 2023 was $78,000. What was Witer's January 1, 2023 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

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 1RE: On December 31, Harrison Company reports the following assets: Which of these are included in, and...

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Question

Cash balance? Answer

In 2023, Witer Corporation had
cash receipts of $56,000 and cash
disbursements of $32,000. Witer's
cash balance at December 31, 2023
was $78,000. What was Witer's
January 1, 2023 cash balance?

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