On April 1^st,your firm had a beginning cash balance of £280.Your sales for March were £460 and your April sales were £510.During April you had cash expenses of £130 and payments on your trade payables to £210.Your trade receivables period is 30 days.What is your firm's beginning cash balance on May 1^st?

Question

Quizplus · Accepted Answer

The beginning cash balance on May 1st is calculated by adding the beginning cash balance on April 1st (£280) to the cash inflows from April sales (£510) and subtracting the cash expenses (£130) and payments on trade payables (£210). Therefore, £280 + £510 - £130 - £210 = £450.

On April 1st,your Firm Had a Beginning Cash Balance of £280.Your

On April 1^st,your Firm Had a Beginning Cash Balance of £280.Your