Asked Sep 24, 2019

In 2018 Calvia Corporation had cash receipts of $35,000 and cash disbursments of $20,000. Calvia's ending cash balance at December 31,2018 was $65,000. What was Calvia's beginning cash balance?


check_circleExpert Solution
Step 1

Formula to compute the beginning cash balance.

(Ending cash balance
Beginning Cash Balance= | -Cash receipts
+Cash disbursements

Image Transcriptionclose

(Ending cash balance Beginning Cash Balance= | -Cash receipts +Cash disbursements

Step 2

Compute the beginning cash ba...

Ending cash balance
Beginning Cash Balance = | -Cash receipts
+Cash disbursements
=$65,000-$35,000 +$20,000

Image Transcriptionclose

Ending cash balance Beginning Cash Balance = | -Cash receipts +Cash disbursements =$65,000-$35,000 +$20,000 =$50,000


Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour*

See Solution
*Response times may vary by subject and question
Tagged in



Financial Accounting

Related Accounting Q&A

Find answers to questions asked by student like you

Show more Q&A add

Q: Wilco Corporation has the following account balances at December 31, 2017. Common stock, $5 par valu...

A: A Balance sheet is a financial statement that reports the assets, liabilities and shareholder’s equi...


Q: Here's the chart for statement of cash flow

A: Step 1:Prepare income statement.


Q: Guthrie Company receives orders from customers and records revenue at that time, even though it has ...

A: Answer is as follows:In this situation, there is a violation of revenue recognition principle, as pe...


Q: A stock is expected to pay a dividend of $1.99 at the end of the year. The required rate of return i...

A: As per the  dividend discount model , the value of the company stock is the instrinsic value or the ...


Q: How would I solve this?

A: Prepare unadjusted trial balance:


Q: Kayak Co. budgeted the following cash recelpts (excluding cash recelpts from loans recelved) and cas...

A: Cash budgets are prepared to determine the inflow and outflow of cash during a given period.


Q: I do not understand how to do case 3 and how to find the conversion cost to find the missing entries...

A: Working Note:Case 3 – Direct Labor and Manufacturing overheadManufacturing overhead is 150% of Direc...


Q: Scott Manufacturing makes only one product with total unit manufacturing costs of $54, of which $40 ...

A: a) Prepare gross profit computations for 2019 and 2020 using absortion costing: 


Q: How to prepare a statement of stockholder's equity, specially in terms of the retained earnings and ...

A: A statement of  owner's equity shows the equity balances owned by the  stockholders showing the comp...