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Americana Company is preparing its budget for the third quarter. Cash balance on July 31 was $34,000. Assume there is no minimum balance of cash required and no borrowing is undertaken. Additional budgeted data are provided here:

   Jul   Aug   Sep
Cash collections   $50,000   $54,000   $54,000
Cash payments         
Purchases of direct materials   24,000   22,000   18,000
Operating expenses   33,000   21,000   34,000
Capital expenditures   10,000   7,000   16,000

Calculate the projected balance of cash at the end of August.
A) $104,000
B) $16,000
C) $45,000
D) $38,000
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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