Question
Arnold Company Pty Ltd provided these estimates for the three months ending 30 June 2020, its first period of operation. The beginning cash balance is
- Arnold Company Pty Ltd provided these estimates for the three months ending 30 June 2020, its first period of operation. The beginning cash balance is $1,000.
| Cash receipts from sales | $300 000 |
| Cash payments for expenses | 130 000 |
| Payment for the purchase of new motor vehicle | 15 000 |
| Depreciation of motor vehicle | 15 000 |
| Repayment of a loan | 100 000 |
- What is the estimated cash balance at 30 June 2010?
|
| a. | $155000 surplus |
|
| b. | $50000 surplus |
|
| c. | $40000 surplus |
|
| d. | $55000 deficit |
|
| e. | $56000 surplus |
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Study Guide Working Papers For College Accounting, Chapters 1-9
Authors: James A. Heintz, Robert W. Parry
23rd Edition
0357474740, 9780357474747
