Question

Determine the beginning cash balance for Sweet Treats Eats if the net cash provided by operating activities is $35,000, net cash used by investing activities is $42,000, net cash provided by financing activities is $12,000, and the ending cash balance is $55,000.

Answer 1

Answer:

$50,000

Explanation:

Given the following information for Sweet Treats Eats

net cash provided by operating activities = $35,000

net cash used by investing activities = $42,000

net cash provided by financing activities = $12,000

ending cash balance = $55,000

Beginning cash balance + $35,000 - $42,000 + $12,000 = $55,000

Beginning cash balance = $55,000 - $35,000 + $42,000 - $12,000

                                         = $50,000