Question
A company is preparing its cash budget for the coming month. All sales are on account. Given the following: Beginning Budgeted Balances Amounts Cash $
A company is preparing its cash budget for the coming month. All sales are on account. Given the following:
| Beginning | Budgeted | |
| Balances | Amounts | |
| Cash | $ 84,000 | |
| Accounts Receivable | 197,000 | |
| Sales | $817,000 | |
| Cash disbursements | 797,000 | |
| Depreciation | 42,000 | |
| Ending accounts receivable balance | 227,000 |
| What is the expected cash balance of the company at the end of the coming month? |
| A. | $32,000. | |
| B. | $134,000. | |
| C. | $74,000. | |
| D. | $92,000. |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Glencoe Accounting Real World Applications And Connections Advanced Course Audit Tests
Authors: McGraw-Hill
5th Edition
0078462002, 978-0078462009
