Question

value: 2.00 points Problem 2-8 (LO2.2) For the following situations, calculate the cash surplus or deficit. (Input all amounts as positive values.) Cash Inflows Cash Outflows Difference Surplus/Defici 3,545 $ 4,935 $ 4,379 $ 3,343 $4,983 $ 4,303 (Click to select) (Click to select) (Click to select) References eBook&Resources Worksheet Difficulty: Basic Problem 2-8 (LO2.2) Learning Objective: 02-02 Create a personal balance sheet and cash flow statement

Answer 1

Cash surplus or cash deficit calculation:

Cash surplus is the positive difference between cash inflow and cash outflow or when cash inflow is more than the cash outflow                                                                                                                                                               

Cash deficit is the negative difference between cash inflow and cash outflow or when cash outflow is more than the cash inflow

Cash Inflow	Cash Outflow	Differences (Cash Inflow – Cash Outflow)	Differences (positive number)	Surplus/ Deficit
$3,545	$3,343	+ $202	$202	Surplus
$4,935	$4,983	-$48	$48	Deficit
$4,379	$4,303	+ $76	$76	Surplus