The Cash T-account of Firefly, Inc. has a beginning balance of $156,000. During the year, $732,000 was debited and $723,000 was credited to the account. What is the ending balance of cash?
A) $111,000
B) ($ 15,000)
C) $165,000
D) Cannot be determined from the information given

Question

Quizplus · Accepted Answer

Beginning cash + Cash receipts - Cash payments = Ending Cash
($156,000 + $732,000 - $723,000) = $165,000

The Cash T-Account of Firefly, Inc