On January 31, the cash account balance was 96,750 . During ...

[shenderson6]

On January 31, the cash account balance was 96,750 . During January, cash receipts totaled 305,000 and cashpayments totaled was 375,880 . Determine the cash balance on January 1.

Question 2

Which of the following is true for a nongovernment, not-for-profit organization?
 
  A. Revenues and expenses may be reported in changes in unrestricted net assets.
  B. Revenues and expenses may be reported in changes in temporarily restricted net assets.
  C. Revenues and net assets released from restrictions may be reported in changes in permanently restricted net assets.
  D. Expenses may be reported in changes in unrestricted net assets, changes in temporarily restricted net assets, and changes in permanently restricted net assets.

[miss_1456@hotmail.com]

Answer to Question 1

+ 305,000  375,880 = 96,750
Cash balance at January 1 is 167,630

Answer to Question 2

A

[shenderson6]

YES! Correct, THANKS for helping me on my review

[momolu]

Thanks for the timely response, appreciate it