Accounting - Cash Question
posted by Anonymous .
"Compute the end-of-month balances for April, May, & June for the cash, accounts, receivable, and supplies."
So when I compute cash for May, will I start from the cash balance from April 31st? And the same thing for June, where I will start from where the cash balance was on May 31st? I am really confused. Thanks! :)
Yes, the ending balance of accounts for one period is the beginning balance for the next one.