On June 1, 2017, England Inc. reported a cash balance of $42,000. During June, England made deposits of $16,000 and made disbursements totaling $48,000. What is the cash balance at the end of June?

Question

Quizplus · Accepted Answer

Starting cash balance = $42,000
Deposits made = $16,000
Disbursements (withdrawals) made = $48,000
Ending cash balance = Starting cash balance + Deposits made - Disbursements made
= $42,000 + $16,000 - $48,000
= $10,000 debit balance (negative sign indicates a debit balance)