On June 1 2022 England Inc.reported a cash balance of $42000.During June England made deposits of $16000 and made disbursements totaling $48000.What is the cash balance at the end of June?

Question

Quizplus · Accepted Answer

Starting cash balance = $42000
Deposits made during June = $16000
Total inflow (cash received) = $42000 + $16000 = $58000
Total disbursements (cash paid out) = $48000

Ending cash balance = Total inflow - Total outflow
= $58000 - $48000
= $10000

Therefore, the cash balance at the end of June is $10000. Option C is the correct answer.