Question

On june 1, 2014, england inc. reported a cash balance of $21,000. during june, england made deposits of $8,000 and made disbursements totaling $24,000. what is the cash balance at the end of june?

Answer 1

The deposit made by the June will be added to the original cash balance. That is, $21,000 + $8,000 which is equal to $29,000. Then, the disbursement will be subtracted from the value calculated above.
final cash balance = $29,000 - $24,000
= $5,000
Therefore, the final cash balance of England Inc. is $5,000.