During February 2016 its first month of operations the owner of Solcist Co. invested cash of $50000. Solcist had cash revenues of $16000 and paid expenses of $21000. Assuming no other transactions impacted the cash account what is the balance in Cash at February 29?

A) $5000 credit
B) $5000 debit
C) $45000 debit
D) $55000 debit

Question

Kathryn Dominique Pacheco · Accepted Answer

Final Answer : C, Explanation :  Starting cash balance = $50,000Cash revenues = $16,000Expenses paid = $21,000Ending cash balance = $50,000 + $16,000 - $21,000 = $45,000 (debit)

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