During February 2022 its first month of operations the owner of Schwenn Enterprises invested cash of $100000.Schwenn had cash sales of $20000 and paid expenses of $35000.Assuming no other transactions impacted the cash account what is the balance in Cash on February 28?

Question

Quizplus · Accepted Answer

Starting cash balance = $100000
Cash sales = $20000
Expenses paid = $35000
Ending cash balance = Starting cash balance + Cash sales - Expenses paid
= $100000 + $20000 - $35000
= $85000

During February 2022 Its First Month of Operations the Owner