Ask Question
31 July, 16:00

Stormer Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $34,000; net cash used in investing activities was $12,400 and net cash used in financing activities was $15,600. If the beginning cash balance is $6,200, what is the ending cash balance?

a. $68,200.

b. $55,800.

c. $37,000.

d. $6,000.

e. $12,200.

+3
Answers (1)
  1. 31 July, 18:53
    0
    e. $12,200

    Explanation:

    In order to calculate the ending cash balance, we must first assess the net increase or net decrease in the balance shown below:

    Net Cash flow provided by Operating activities $34,000

    Net Cash flow used in Investing activities - $12,400

    Net Cash flow used in Financing activities - $15,600

    Net increase (decrease) in cash for the year is $6,000

    Now the ending balance of cash would be

    = Net increase in cash + beginning cash balance

    = $6,000 + $6,200

    = $12,200
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Stormer Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $34,000; net ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers