Question
Use the following information to prepare a cash budget for the month ended on March 31 for Sosa Company. The budget should show expected cash
Use the following information to prepare a cash budget for the month ended on March 31 for Sosa Company. The budget should show expected cash receipts and cash disbursements for the month of March and the balance expected on March 31.
Beginning cash balance on March 2, $82,000
Cash receipts from sales, $300,000
Budgeted cash disbursements for inventory purchases, $120,000
Budgeted cash disbursements for salaries, $80,000
Other budgeted cash expenses, $55,000
Cash repayment of bank loan, $30,000
Cash Budget | ||
| March |
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Beginning Cash Balance |
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Add Cash Receipts |
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Total Cash Available |
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Less Inventory Purchases |
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Less Salaries |
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Less Other Cash Expenses |
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Cash surplus/shortage |
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Borrowing (Repayment) |
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Ending Cash Balance |
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What is the total ending cash balance?
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