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7 years ago
Uncle's Caps, Inc., a merchandising company, has provided the following budgeted amounts for the next budget period.

Beginning cash balance   $30,400
Cash collections   683,000
Payments for:   
Purchases of merchandise inventory   349,400
Selling and administrative expenses   70,700
Capital expenditures   88,600

A minimum cash balance of $250,000 is required to be maintained. The company can borrow in increments of $10,000 as and when required. Assume the company can borrow the needed funds at the end of the period. Calculate the ending cash balance for the budget period.
A) $713,400
B) $733,000
C) $254,700
D) $204,700
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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Deprecated Author
wrote...
#2
7 years ago
Makes perfect sense, thx
wrote...
#3
3 years ago
thankk you
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