Westmoreland Corporation prepared its statement of cash flows for the year.The following information is taken from that statement: What is the cash balance at the beginning of the year?
A)$15,680
B)$7,840
C)$17,640
D)$43,120

Question

Westmoreland Corporation prepared its statement of cash flows for the year.The following information is taken from that statement:  What is the cash balance at the beginning of the year?
A)$15,680 
B)$7,840 
C)$17,640 
D)$43,120

Quizplus · Accepted Answer

Ending Cash Balance = Beginning Cash Balance + Cash Flows from Operating Activities + Cash Flows from Investing Activities + Cash Flows from Financing Activities
Beginning Cash Balance = Ending Cash Balance − Cash Flows from Operating Activities − Cash Flows from Investing Activities − Cash Flows from Financing Activities
= $25,480 − $40,600 − $11,760 + $34,720 = $7,840

Westmoreland Corporation Prepared Its Statement of Cash Flows for the Year.The