Ralston Company's cash balance at December 31,20x5,was $23,000.During the year,Ralston sold assets with a book value of $245,000 that resulted in a loss of $110,000.Calculate the company's cash balance at December 31,20x6,given the following information for the year ended December 31,20x6.Show your work.

Question

Ralston Company's cash balance at December 31,20x5,was $23,000.During the year,Ralston sold assets with a book value of $245,000 that resulted in a loss of $110,000.Calculate the company's cash balance at December 31,20x6,given the following information for the year ended December 31,20x6.Show your work.
Ralston Company's cash balance at December 31,20x5,was $23,000.During the year,Ralston sold assets with a book value of $245,000 that resulted in a loss of $110,000.Calculate the company's cash balance at December 31,20x6,given the following information for the year ended December 31,20x6.Show your work.

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The Answer of Ralston Company's cash balance at December 31,20x5,was $23,000.During the year,Ralston sold assets with a book value of $245,000 that resulted in a loss of $110,000.Calculate the company's cash balance at December 31,20x6,given the following information for the year ended December 31,20x6.Show your work.

Ralston Company's Cash Balance at December 31,20x5,was $23,000