At September 1, 2017, Kern Enterprises reported a cash balance of $140,000. During the month, Kern collected cash of $60,000 and made disbursements of $100,000. At September 30, 2017, the cash balance is

Question

Quizplus · Accepted Answer

Starting cash balance = $140,000
Cash collected during the month = $60,000
Cash disbursements during the month = $100,000

Therefore, the ending cash balance can be calculated as:
Starting cash balance + Cash collected - Cash disbursements
= $140,000 + $60,000 - $100,000
= $100,000 debit

So, the correct answer is D: $100,000 debit.

At September 1, 2017, Kern Enterprises Reported a Cash Balance