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Kay [80]
3 years ago
7

New England Co. had net cash provided by operating activities of $351 ,000; net cash used by investingactivities of $420,000; an

d cash provided by financing activities of $250,000. New England's cash balancewas $27 ,000 on January 1. During the year, there was a sale of land that resulted in a gain of $25,000 andproceeds of $40,000 were received from the sale. What was New England's cash balance at the end of theyear?a. $27,000b. $40,000c. $208,000d. $248,000
Business
1 answer:
Ira Lisetskai [31]3 years ago
7 0

Answer:

d. $248,000

Explanation:

beginning cash balance            27,000

operating activities 351,000

investing activities (420,000)

financing                 250,000

cash generate during the year 181,000

ending cash balance                208,000

<u>Note:</u>

The information of the sale of land is contained with the investment activities.

The proceeds from sales are in the operating activities.

<u>We just need to calculate using the total for each activity.</u>

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