Reference no: EM132964075
Question - Zero Na Corp. has been undergoing liquidation since January 1. As of March 31, its condensed statement of realization and liquidation is presented below:
ASSETS
Assets to be realized 1,375,000
Assets acquired 750,000
Assets realized 1,200,000
Assets not realized 1,375,000
LIABILITIES
Liabilities liquidated 1,875,000
Liabilities to be liquidated 2,250,000
Liabilities not liquidated 1,700,000
Liabilities assumed 1,625,000
REVENUES AND EXPENSES
Supplementary debits 2,000,000
Supplementary credits 2,650,000
Required - Compute the beginning cash balance assuming that common stocks and deficits are 1,400,000 and 500,000, respectively?
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