Buster's had a beginning cash balance of $2,780 for the quarter. During the quarter, the firm had cash collections of $41,309, wages and other cash expenses of $18,800, payments on account of $21,308, and dividends paid of $1,200. The beginning short-term debt is $6,800 with a quarterly interest rate of 2 percent. The firm just adopted a new policy which sets the minimum cash balance at $600. At quarter end, the cumulative surplus (deficit) is _____ and the ending short-term debt is ________. Multiple Choice $0; $4,755 $0; $4,891 $1,892; $4,891 $2,045; $4,755 $0; $6,800

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Buster's had a beginning cash balance of $2,780 for the quarter. During the quarter, the firm had cash collections of $41,309, wages and other cash expenses of $18,800, payments on account of $21,308, and dividends paid of $1,200. The beginning short-term debt is $6,800 with a quarterly interest rate of 2 percent. The firm just adopted a new policy which sets the minimum cash balance at $600. At quarter end, the cumulative surplus (deficit) is _____ and the ending short-term debt is ________.

Multiple Choice

$0; $4,755

$0; $4,891

$1,892; $4,891

$2,045; $4,755

$0; $6,800

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