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ABC Company has a cash balance of $37,000 on August 1 and requires a minimum ending cash balance of $24,160. Cash receipts from sales budgeted for August are $200,160. Cash disbursements budgeted for August include inventory purchases, $29,000; other manufacturing expenses, $55,000; operating expenses, $40,000; bond retirements, $62,000; and dividend payments, $27,000. Required: Prepare a cash budget for ABC Company for August. Beginning cash balance. Cash Receipts: Total cash available Cash Disbursements: Total cash disbursements Ending cash balance August

ABC Company has a cash balance of $37,000 on August 1 and requires a minimum ending cash balance of $24,160. Cash receipts from sales budgeted for August are $200,160. Cash disbursements budgeted for August include inventory purchases, $29,000; other manufacturing expenses, $55,000; operating expenses, $40,000; bond retirements, $62,000; and dividend payments, $27,000. Required: Prepare a cash budget for ABC Company for August. Beginning cash balance. Cash Receipts: Total cash available Cash Disbursements: Total cash disbursements Ending cash balance August

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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ABC Company has a cash balance of $37,000 on August 1 and requires a minimum ending cash balance of $24,160. Cash receipts from sales budgeted for August are $200,160. Cash disbursements budgeted for August include inventory purchases, $29,000; other manufacturing expenses, $55,000; operating expenses, $40,000; bond retirements, $62,000; and dividend payments, $27,000. Required: Prepare a cash budget for ABC Company for August. Beginning cash balance. Cash Receipts: Total cash available Cash Disbursements: Total cash disbursements Ending cash balance August
Transcribed Image Text:ABC Company has a cash balance of $37,000 on August 1 and requires a minimum ending cash balance of $24,160. Cash receipts from sales budgeted for August are $200,160. Cash disbursements budgeted for August include inventory purchases, $29,000; other manufacturing expenses, $55,000; operating expenses, $40,000; bond retirements, $62,000; and dividend payments, $27,000. Required: Prepare a cash budget for ABC Company for August. Beginning cash balance. Cash Receipts: Total cash available Cash Disbursements: Total cash disbursements Ending cash balance August
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