Marvel Shoes
Marvel Shoes reported the following items on its statement of cash flows for the current year:

$\begin{array}{lr}
\text { Net cash inflows from operating activities } & \$ 70,000 \
\text { Net cash out flows from investing activities } & (20,000) \
\text { Net cash outflows from financing activities } & (40,000) \
\text { Cash balance at the beginning of the year } & 30,000
\end{array}$
-Read the information about Marvel Shoes.What was the cash balance for Marvel Shoes at the end of the current year?

Question

Marvel Shoes
Marvel Shoes reported the following items on its statement of cash flows for the current year:
​
 $\begin{array}{lr}
\text { Net cash inflows from operating activities } & \$ 70,000 \
\text { Net cash out flows from investing activities } & (20,000) \
\text { Net cash outflows from financing activities } & (40,000) \
\text { Cash balance at the beginning of the year } & 30,000
\end{array}$ ​
-Read the information about Marvel Shoes.What was the cash balance for Marvel Shoes at the end of the current year?

Quizplus · Accepted Answer

The cash balance at the end of the year is calculated by adding the net cash inflows from operating activities ($70,000), subtracting the net cash outflows from investing activities (-$20,000), subtracting the net cash outflows from financing activities (-$40,000), and adding the cash balance at the beginning of the year ($30,000). This results in a cash balance of $40,000 at the end of the year.

Marvel Shoes Marvel Shoes Reported the Following Items on Its

Marvel Shoes
Marvel Shoes Reported the Following Items on Its