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14 November, 03:53

During February 2022, its first month of operations, the owner of Kingbird, Inc. invested cash of $114000. Kingbird had cash sales of $22800 and paid expenses of $39900. Assuming no other transactions impacted the cash account, what is the balance in Cash at February 28, 2022?

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  1. 14 November, 05:14
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    Cash balance as at February 28 2022 is $ 96,900

    Explanation:

    Based on the data provided in the question, the movements in the cash account is as follows:

    Investment from owner $ 114,000

    Add: Cash sales $ 22,800

    Less: Cash payment for expenses $ (39,900)

    Cash balance as at February 28, 2022 $ 96,900
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