Lillian Has Made Several Transactions in the Past Few Days

question 17

Short Answer

Lillian has made several transactions in the past few days and wants to know her current balance. Find the amount of the balance forward that would result following these transactions:
Starting balance: $2,128.40
June 2; check #542; to JAB Consulting; amount of $263.96
Deposit; June 19; amount of $844.96
June 24; check #543; to Vu Video; amount of $83.44

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Definitions:

Consolidated Balance Sheet

A financial statement showing the financial position of a company and its subsidiaries as one single entity.

Current Liabilities

Short-term financial obligations that are due within one year or within the normal business cycle of a company.

Consolidated Balance Sheet

A comprehensive financial statement presenting the total assets, liabilities, and shareholder equity of a parent company and its subsidiaries as a single entity.

Common Shares

Equity securities that represent ownership in a corporation, granting voting rights and a share in the company's profits through dividends.