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Andre45 [30]
3 years ago
13

Jenna Jeffries started her business baking dog treats by investing cash of $1,000. During May, its first month of operations, Je

nna's Barkery had revenues of $3,000, all of which was collected in cash. She paid her assistant $1,000 in cash and purchased $200 of supplies on account. The business paid cash dividends of $500.
Required:
Determine the balance in Cash at the end of the month.
Business
1 answer:
ElenaW [278]3 years ago
3 0

Answer:

Cash balance= $500

Explanation:

Giving the following information:

Started her business baking dog treats by investing cash of $1,000.

Had revenues of $3,000.

She paid her assistant $1,000 in cash.

The business paid cash dividends of $500.

<u>The cash account is affected by every entrance or exit of money. For example, if a purchase is made on account, the cash balance is not affected.</u>

Cash balance= -1,000 + 3,000 - 1,000 - 500

Cash balance= $500

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