In 2022, Grider Corporation had cash receipts of $56,000 and cash disbursements of $32,000.Grider's cash balance at December 31, 2022 was $78,000.What was Grider's January 1, 2022 cash balance?
A)$54,000
B)$70,000
C)$110,000
D)$102,000

Question

Quizplus · Accepted Answer

To find the January 1, 2022 cash balance, subtract the cash receipts from the December 31, 2022 cash balance and add the cash disbursements: $78,000 - $56,000 + $32,000 = $54,000.

In 2022, Grider Corporation Had Cash Receipts of $56,000 and Cash