Day-by-Day Calendar Company's statement of cash flows showed the following activities for the year ended December 31, 2019: The year-end cash balance for this firm is:
A) $7,000.00
B) $53,000.00
C) $23,000.00
D) $30,000.00

Question

Day-by-Day Calendar Company's statement of cash flows showed the following activities for the year ended December 31, 2019:  The year-end cash balance for this firm is:
A) $7,000.00 
B) $53,000.00 
C) $23,000.00 
D) $30,000.00

Quizplus · Accepted Answer

Statement of cash flows shows cash generated from three sources: operating activities, investing activities, and financing activities. Day-by-Day Calendar Company records show a positive cash position from operating activities, and a negative position for cash from investing and financing activities. $30,000 −15,000 − 8,000 = cash balance of $7,000.

Day-By-Day Calendar Company's Statement of Cash Flows Showed the Following