Ogden Corporation has a projected balance sheet that include

Ogden Corporation has a projected balance sheet that includes the following accounts. Cash $ ? Marketable securities 405,000 Accounts receivable 980,000 Inventory 785,000 Non-current assets, net 2,110,000 Total liabilities 1,636,000 Total equity 3,220,000 What is the projected cash balance? Select one: A. $-0- B. $487,000 C. $560,000 D. $576,000 E. None of the above

Solution

D. $576,000 Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars Amount Total Liabilities          1,636,000.00 Total Equity          3,220,000.00 Total Liabilities + Equity = Assets          4,856,000.00 Total Assets          4,856,000.00 Less Marketable securities            (405,000.00) Less Accounts receivable            (980,000.00) Less Inventory            (785,000.00) Less Non-current assets        (2,110,000.00) Cash = Total Assets - All other assets              576,000.00