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Home Q & A Board Other Fields Homework Help Business Accounting
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7 years ago
Tortilla Corp. has provided a part of its budget for the second quarter:

   Apr   May   Jun
Cash collections   $42,000   $40,000   $45,000
Cash payments:         
Purchases of direct materials   6,000   7,000   5,000
Operating expenses   7,000   9,000   
    Capital expenditures   0   4,600   4,000

The cash balance on April 1 is $14,000. Assume that there will be no financing transactions or costs during the quarter. Calculate the projected cash balance at the end of May.
A) $56,000
B) $20,600
C) $83,000
D) $62,400
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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Deprecated Author
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#2
7 years ago
Makes perfect sense, thx
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