The following items provide information about an individual for the past year. What is the individual's ending cash balance?
A)$35,000
B)$37,000
C)$17,000
D)$19,000

Question

The following items provide information about an individual for the past year. What is the individual's ending cash balance? 
A)$35,000 
B)$37,000 
C)$17,000 
D)$19,000

Quizplus · Accepted Answer

The individual has a beginning cash balance of $22,000, and over the course of the year, they had cash inflows of $76,000 and cash outflows of $81,000. Therefore, their ending cash balance would be calculated as follows:

Beginning balance + Inflows - Outflows = Ending balance 
$22,000 + $76,000 - $81,000 = $17,000

Therefore, the correct answer is C, ending cash balance of $17,000.

The Following Items Provide Information About an Individual for the Past