A contractor has beginning cash of $45,000, cash receipts of $125,000, and cash disbursements of $138,000 for the month. What is the ending cash balance?
Correct Answer
A) $32,000
Ending cash = Beginning cash + Cash receipts - Cash disbursements = $45,000 + $125,000 - $138,000 = $32,000
Why This Is the Correct Answer
Ending cash = Beginning cash + Cash receipts - Cash disbursements = $45,000 + $125,000 - $138,000 = $32,000
More NASCLA Questions
Which AIA document contains the general conditions that govern the rights and responsibilities of all parties in a construction contract?
A construction company has direct labor costs of $85,000, direct materials of $120,000, and overhead costs of $45,000 for a project. What is the total job cost?
What is the primary purpose of job cost accounting in construction?
A construction company has current assets of $350,000 and current liabilities of $280,000. What is the company's working capital?
In CSI MasterFormat, which division covers earthwork and site preparation?
In a mechanical drawing, what does 'CFM' typically measure?
In CSI MasterFormat Division 08, which of the following would typically be included?
On a mechanical plan, what does the symbol 'RTU' typically indicate?
What is the minimum preheat temperature for welding ASTM A992 steel when the ambient temperature is 15°F?
A general contractor's balance sheet shows total assets of $850,000, current liabilities of $320,000, and long-term debt of $180,000. What is the company's equity?
People Also Study
Business & Financial Management
120 questions · 70% to pass
Contract Administration
60 questions · 70% to pass
Project Management
60 questions · 70% to pass