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i did this and it says incomplete! ABC Company has a cash balance of $33,000 on August 1 and requires a minimum ending cash balance
i did this and it says incomplete!
ABC Company has a cash balance of $33,000 on August 1 and requires a minimum ending cash balance of $19,192. Cash receipts from sales budgeted for August are $205192. Cash disbursements budgeted for August include inventory purchases, $25,000; other manufacturing expenses. $60,000, operating expenses, $53,000, bond retirements, $58,000; and dividend payments, $23,000, Required: Prepare a cash budget for ABC Company for August August $ 33.000 205,192 238,192 S Beginning cash balance Cash Receipts Cash collections from sales Total cash available Cash Disbursements: For payment of inventory purchases For payment of other manufacturing expenses For payment of operating expenses For payment to retire bond For payment of dividends 25.000 60,000 53,000 58.000 23,000 Total cash disbursements Excess of available cash over disbursements $ $ 219.000 19.192 Ending cash balance 5 19,192 Step by Step Solution
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