Tennison Corporation Had the Following Transactions in Its First Year

question 31

Multiple Choice

Tennison Corporation had the following transactions in its first year of operations:
$\begin{array}{lr}\text { Sales ( \( 90 \% \) collected in year) }&\$1,500,000\\\text { Bad debt write-offs }&60,000\\\text { Disbursements for production costs }&1,200,000\\\text { and other expenses}\\\text { Disbursements for income taxes } & 90,000 \\\text { Purchases of fixed assets } & 400,000 \\\text { Depreciation of fixed assets } & 80,000 \\\text { Proceeds from issuance of common stock } & 500,000 \\\text { Proceeds from short-term borrowings } & 100,000 \\\text { Payments on short-term borrowings } & 50,000\end{array}$
What is the cash balance at year-end?

• A) $150,000.
• B) $170,000.
• C) $210,000.
• D) $280,000.

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