Answer:
$100
Explanation:
Solution according to given question:
Cash receipts of $10,000
Cash disbursements of $7,700
Cash balance on February 28 $2,400
Ending cash balance = Beginning cash balance + Cash receipts - Cash disbursements
$2,400 = Beginning cash balance + $10,000 - $7,700
$2,400 = Beginning cash balance + $2,300
Beginning cash balance = $2,400 - $2300
Beginning cash balance = $100
There is an inconsistency between the information provided in the question and the options available
Orginal Question is as follows:
During the month of February, Hoffer Company had cash receipts of $12,900 and cash disbursements of $14,900. The February 28 cash balance was $3,600. What was the January 31 beginning cash balance?
$1,600
$5,600
$2,000
$0
$7,600
Correct Answer is B. $5,600.
