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24 December, 21:35

New England Co. had net cash provided by operating activities of $351,000; net cash used by investingactivities of $420,000; and cash provided by financing activities of $250,000. New England's cash balancewas $27,000 on January 1. During the year, there was a sale of land that resulted in a gain of $25,000 andproceeds of $40,000 were received from the sale. What was New England's cash balance at the end of theyear? a. $27,000b. $40,000c. $208,000d. $248,000

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  1. 25 December, 01:30
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    d. $248,000

    Explanation:

    beginning cash balance 27,000

    operating activities 351,000

    investing activities (420,000)

    financing 250,000

    cash generate during the year 181,000

    ending cash balance 208,000

    Note:

    The information of the sale of land is contained with the investment activities.

    The proceeds from sales are in the operating activities.

    We just need to calculate using the total for each activity.
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