A given government has a starting cash balance of $400,000. It levies taxes of $500,000, and...

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A given government has a starting cash balance of $400,000. It levies taxes of $500,000, and collects $475,000 of that amount before the end of the fiscal period. Additional charges and fees amount to $75,000. The government disburses $415,000 in wages, salaries and benefits; repays a loan of $220,000, plus an additional $55,000 in interest on outstanding debt. Other expenditures amount to $35,000. (a) What is the budget surplus or deficit for the period? (b) What is the ending cash balance? A given government has a starting cash balance of $400,000. It levies taxes of $500,000, and collects $475,000 of that amount before the end of the fiscal period. Additional charges and fees amount to $75,000. The government disburses $415,000 in wages, salaries and benefits; repays a loan of $220,000, plus an additional $55,000 in interest on outstanding debt. Other expenditures amount to $35,000. (a) What is the budget surplus or deficit for the period? (b) What is the ending cash balance?

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Lets break it down a Budget surplus or deficit Total revenue Taxes collected 475000 Addit... View the full answer