Quince Holman Corporation reports: Cash provided by operating activities $250,000 Cash used by investing activities 110,000 Cash provided by financing activities 140,000 Beginning cash balance 70,000 What is Holman’s ending cash balance? a) $280,000 b) $350,000 c) $500,000 d) $570,000

Accounting May 05, 2021

Quince Holman Corporation reports:

Cash provided by operating activities $250,000

Cash used by investing activities 110,000

Cash provided by financing activities 140,000

Beginning cash balance 70,000

What is Holman’s ending cash balance?

a) $280,000

b) $350,000

c) $500,000

d) $570,000

Expert Solution

Computation of the ending cash balance:-

Ending cash balance = Cash provided by operating activities - Cash used by investing activities + Cash provided by financing activities + Beginning cash balance

= $250,000 - $110,000 + $140,000 + $70,000

= $350,000

Correct option is b) $350,000

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