A corporation prepared its statement of cash flows for the year.The following information is taken from that statement: What is the cash balance at the beginning of the year?

A)$5,600
B)$2,800
C)$6,300
D)$15,400

Question

A corporation prepared its statement of cash flows for the year.The following information is taken from that statement: What is the cash balance at the beginning of the year?

A)$5,600 
B)$2,800 
C)$6,300 
D)$15,400

Quizplus · Accepted Answer

The statement of cash flows starts with the opening balance of cash, which is the cash balance at the beginning of the year. From the given information, we can see that the opening balance of cash was $2,800. Therefore, the correct choice is B.

A Corporation Prepared Its Statement of Cash Flows for the Year.The