Exercise 4-11 (Part Level Submission) The following cash T-account for Tamarisk

Question

Exercise 4-11 (Part Level Submission) The following cash T-account for Tamarisk Manufacturing summarizes all the transactions affecting cash during 2017. Cash Beginning balance Sales of inventories Receivable collections Sales of long-term investments 12,500 Loan interest Issuance of common stock Long-term borrowings 25,900 6,700 9,600 2,700 16,200 4,200 Selling and administrative expenses 12,200 10,200 7,800 Inventory purchases 34,100 Accounts payable payments 38,800 Bank loan principal payments 14,800Wages 8,300 Dividend payments Equipment purchases Compute the ending cash balance Ending cash

Explanation / Answer

Calculate ending cash balance :

So Ending Cash $28600

Cash Beginning balance 7800 Inventory purchase 25900 Sales of inventories 34100 Account payable payments 6700 Receivable collections 38800 Bank loan principal payments 9600 Sales of long term investments 12500 Loan interest 2700 Issuance of common Stock 14800 Wages 16200 long term borrowings 8300 Dividend payments 4200 Selling and administrative expenses 12200 Equipment purchase 10200 Total 116300 Total 87700 Ending balance 28600

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