Top Posters
Since Sunday
g
3
3
2
J
2
p
2
m
2
h
2
s
2
r
2
d
2
l
2
a
2
Home Q & A Board Other Fields Homework Help Business Marketing
New Topic  
Deprecated Deprecated
wrote...
Go to Answer
Posts: 2784
Rep: 104 0
7 years ago
Gamma Corp. has prepared a preliminary cash budget for the third quarter as shown below:

Cash Budget   Jul   Aug   Sep
Beginning cash balance   $32,000   $4,400   $6,900
Plus: Cash collections   $49,400   $51,000   47,800
Cash available   81,400   $55,400   $54,700
Less: Cash payments:         
Purchases of direct materials   36,000   9,000   10,000
Operating expenses   40,000   30,500   30,700
Capital expenditures   1,000   9,000   7,000
Ending cash balance   $4,400   $6,900   $7,000

Subsequently, the marketing department revised its figures for cash collections. New data are as follows: $52,000 in July, $55,000 in August, and $42,000 in September. Based on the new data, calculate the new projected cash balance at the end of July.
A) $13,500
B) $7,000
C) $7,800
D) $4,400
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
Read 190 times
3 Replies
Replies
Answer verified by a subject expert
Mrgo-breedMrgo-breed
wrote...
#1
Top Poster
Posts: 2227
Rep: 276 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here

Related Topics

Deprecated Author
wrote...
#2
7 years ago
Will mark this subject solved, thanks
wrote...
#3
7 years ago
Happy to help Smiling Face with Open Mouth
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1161 People Browsing
 107 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 268
  
 366
  
 342
Your Opinion
Do you believe in global warming?
Votes: 370
Previous poll results: Do you trust social media networks with protecting your privacy?