Answer:
December 31 2014, cash = $486,000
Explanation:
To solve this, we will classify the particulars as either income or expenditure,and find the difference. This is shown below:
Particulars income($) expenditure($)
operating activities 531,000 -
investing activities - 963,000
financing activities 585,000 -
January 1 cash balance 333,000 -
Total 1,449,000 963,000
∴ net cash available on December 31 2014 = Total income - expenditure
= 1,449,000 - 963,000 = $486,000
