Calculate the Cash Balance Given the Following Information A)$48,000
B)$45,000
C)$42,000
D)$39,000

question 5

Multiple Choice

Calculate the cash balance given the following information: $$\begin{array} {| l | r | } \hline \text { Decrease in AR } & 30,000 \\\hline \text { Increase in Inventory } & 70,000 \\\hline \text { Increase in Accounts Payable } & 45,000 \\\hline \text { Decrease in Taxes Payable } & 8,000 \\\hline \text { Repaid Long Term Debt } & 90,000 \\\hline \text { Issued Common Shares } & 160,000 \\\hline \text { Issued Dividends } & 25,000 \\\hline\end{array}$$

• A)$48,000
• B)$45,000
• C)$42,000
• D)$39,000

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Definitions:

Judicial Lien

A lien obtained by a creditor through court proceedings, securing the payment of a judgment by claiming the debtor's property until the debt is satisfied.

Household Items

Personal belongings and objects that are used within a home for daily functions and activities.

Wage Garnishment

A court-ordered process that requires an employer to withhold a portion of an employee's wages and send it directly to the creditor until a debt is paid off.

Exempt Property

Property that is protected by law from being taken by creditors or in bankruptcy proceedings, typically including a primary residence, clothing, and basic household furnishings.