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2 years ago

Mike owns a skate shop. He is preparing the cash flow statement for his first year of

Business

1 answer:

Katyanochek1 [597]2 years ago

3 0

Based on the information given Ending Cash Balance is $96,200.

<h3>Ending Cash Balance </h3>

Using this formula

Ending Cash Balance = Beginning Cash + Cash Inflow - Cash Outflow

Where:

Beginning Cash=$4,800

Cash Inflow =$103,000

Cash Outflow=$3,500+ $2,600+ $5,500 =$11,600

Let plug in the formula

Ending Cash Balance =$4,800+$103,000-($3,500+ $2,600+ $5,500 )

Ending Cash Balance =$4,800+$103,000-$11,600

Ending Cash Balance =$96,200

Inconclusion the Ending Cash Balance is $96,200.

Learn more about Ending Cash Balance here:brainly.com/question/14467401

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