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Your company collected $326.00 million and spent $387.00 million this month. If previous month's cash position (cumulative cash) is $12.87 million, what's the company's ending cash position at the end of this month? Note: your answer should be in millions of dollars

Your company collected $326.00 million and spent $387.00 million this month. If previous month's cash position (cumulative cash) is $12.87 million, what's the company's ending cash position at the end of this month? Note: your answer should be in millions of dollars

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Your company collected $326.00 million and spent $387.00 million this month. If previous month's cash position (cumulative cash) is $12.87 million, what's the company's ending cash position at the end of this month?

Note: your answer should be in millions of dollars.

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Step 1

Cash is the part of current assets of the company. It is important for the company to manage its cash efficiently and effectively because cash helps in the smooth conduct of business.   

 

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