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In 2022, Nash's Trading Post, LLC had cash receipts of $41440 and cash disbursements of $23680....

In 2022, Nash's Trading Post, LLC had cash receipts of $41440 and cash disbursements of $23680. Nash's cash balance at December 31, 2022 was $57720. What was Nash's January 1, 2022 cash balance?

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Answer #1

Nash's January 1, 2022 cash balance

We know, the cash balance on December 31, 2022 = Cash balance on January 1, 2022 + Total cash receipts during the year – Total cash disbursements for the year

$57,720 = Cash balance on January 1, 2022 + $41,440 - $23,680

$57,720 = Cash balance on January 1, 2022 + $17,760

Therefore, the Cash balance on January 1, 2022 = $57,720 - $17,760

Cash balance on January 1, 2022 = $39,960

“Hence, the Nash's January 1, 2022 cash balance will be $39,960”

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