Question
Hilliard Company budgeted the following transactions for April Year 2: Sales (75% collected in month of sale) $ 240,000 Cash Operating Expenses 109,000 Cash Purchases
Hilliard Company budgeted the following transactions for April Year 2:
| Sales (75% collected in month of sale) | $ | 240,000 | |
| Cash Operating Expenses | 109,000 | ||
| Cash Purchases of Investment | 79,000 | ||
| Cash Payment of Debt | 19,000 | ||
| Depreciation on Operating Assets | 20,000 |
The beginning cash balance was $58,000. The company desires to have a $57,000 ending cash balance. The surplus (or shortage) of cash before considering any borrowings in April would be:
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Internal Auditors For Stock Brokers
Authors: National Institute Of Securities Markets (NISM)
1st Edition
9350717581, 978-9350717585
