Amount of cash at the end of the year


Bloomberg Company issed stock for $30,000 cash on January 20, 2010. During 2010, the company recorded revenue on account of $12,000 and expenses on account of $5,500. Bloomberg received $8,200 cash from accounts receivable and paid $4,500 on the accounts payable. The company also purchased land for $5,500 cash. The beginning cash balance was zero. Based on this information, the amount of cash at the end of the year is?

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Accounting Basics: Amount of cash at the end of the year
Reference No:- TGS043922

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