Question

During February 2022, its first month of operations, the owner of Kingbird, Inc. invested cash of $114000. Kingbird had cash sales of $22800 and paid expenses of $39900. Assuming no other transactions impacted the cash account, what is the balance in Cash at February 28, 2022?

Answer 1

Cash balance as at February 28 2022 is $ 96,900

Step-by-step explanation:

Based on the data provided in the question, the movements in the cash account is as follows:

Investment from owner $ 114,000

Add: Cash sales $ 22,800

Less: Cash payment for expenses $ (39,900)

Cash balance as at February 28, 2022 $ 96,900