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Home Q & A Board Other Fields Homework Help Business Accounting
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anatomy66 anatomy66
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1 months ago
A company is preparing its cash budget for the first quarter of the year. It has $8,000 in cash at the beginning of the period. Cash sales for the quarter are budgeted at $180,000. Selling and administrative expenses are budgeted at $58,000, which includes $12,000 depreciation. Cash expenses are paid in the month incurred. Cash payment for inventory purchases are budgeted at $135,000. The desired cash balance on March 31 is $10,000. How much financing will the company need during the quarter?

▸ $5,000

▸ $3,000

▸ $0

▸ $7,000
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Managerial Accounting

Managerial Accounting


Edition: 4th
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LeonKennedySLeonKennedyS
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$3,000

Cash budget is: $8,000 + $180,000 - ($58,000 - $12,000) - $135,000 = $7,000;
Finance the difference of $10,000 - $7,000 = $3,000
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anatomy66 Author
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1 months ago
Thanks
sudenzia
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Yesterday
Thanks for your help!!
loki1345
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2 hours ago
Good timing, thanks!
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