jasper inc. budgeted the following transactions for June. the beginning cash balance was $70,000. the company desires to have a $45,000 ending cash balance

The first budget prepared in a master budget is the sales budget. The purchasing manager should provide the projections for the sales budget (forecast). Participative budgeting means that lower level employees are primarily responsible for preparing the budget. A master budget usually provides information about plans and expectations for the upcoming 1 year period. The nature of planning changes with the length of time period being considered. Generally, the shorter the time period, the more specific the plans Four purposes or reasons for budgeting involve planning, coordination, performance measurement and corrective action 9) Jasper Inc. budgeted the following transactions for June. The beginning cash balance was $70,000. The company desires to have a 545,000 ending cash balance. Sales (80% of this amount is expected to be collected in cash during June) $200,000 Cash Operating Expenses 120,000 Cash Purchases of investments 60.000 Cash Payment of Debt 10,000 Depreciation on Operating Assets 12.000 Must have both of the answers below correct (dollar amount AND surplus or shortage answer) to receive any points: Surplus Shortage What is the amount of the cash surplus or shortare? (6 pts) OR (Circle one) Work Area (optional): 21 Page