Reference no: EM132848594
Question - Tennison Corporation had the following transactions in its first year of operations:
Sales (90% collected in year) $1,500,000
Bad debt write-offs 60,000
Disbursements for production 1,200,000
Disbursements for income taxes 90,000
Purchases of fixed assets 400,000
Depreciation of fixed assets 80,000
Proceeds from common stock 500,000
Proceeds from short-term borrowings 100,000
Payments on short-term borrowings 50,000
Required - What is the cash balance at year-end?
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