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c. Indicate whether Havel will need to borrow money during October by preparing October's Cash Budget. (Negative amount be indicated by a minus sign.) Answer is complete but not entirely correct. Cash Budget for October Beginning cash balance Add: Cash receipts Cash available Less: Payments For inventory purchases For S&A expenses Total budgeted payments Cash surplus (shortage) Will Havel need to borrow money during October? ›› ●● $ 16,000 100,000 116,000 (106,800) (53,800) (160,600) 40,000 Yes

c. Indicate whether Havel will need to borrow money during October by preparing October's Cash Budget. (Negative amount be indicated by a minus sign.) Answer is complete but not entirely correct. Cash Budget for October Beginning cash balance Add: Cash receipts Cash available Less: Payments For inventory purchases For S&A expenses Total budgeted payments Cash surplus (shortage) Will Havel need to borrow money during October? ›› ●● $ 16,000 100,000 116,000 (106,800) (53,800) (160,600) 40,000 Yes

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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Cash Accounts receivable Inventory Store equipment Accumulated depreciation Accounts payable Line of credit loan Common stock Retained earnings Totals Cash Budget for October Beginning cash balance Add: Cash receipts Cash available c. Indicate whether Havel will need to borrow money during October by preparing October's Cash Budget. (Negative amounts should be indicated by a minus sign.) Less: Payments $ 16,000 60,000 40,000 200,000 For inventory purchases For S&A expenses $316,000 Answer is complete but not entirely correct. Total budgeted payments Cash surplus (shortage) Will Havel need to borrow money during October? 33 $ 76,800 72,000 100,000 50,000 17,200 $316,000 $ 16,000 100,000 116,000 (106,800) (53,800) $ Yes (160,600) 40,000 3
Transcribed Image Text:Cash Accounts receivable Inventory Store equipment Accumulated depreciation Accounts payable Line of credit loan Common stock Retained earnings Totals Cash Budget for October Beginning cash balance Add: Cash receipts Cash available c. Indicate whether Havel will need to borrow money during October by preparing October's Cash Budget. (Negative amounts should be indicated by a minus sign.) Less: Payments $ 16,000 60,000 40,000 200,000 For inventory purchases For S&A expenses $316,000 Answer is complete but not entirely correct. Total budgeted payments Cash surplus (shortage) Will Havel need to borrow money during October? 33 $ 76,800 72,000 100,000 50,000 17,200 $316,000 $ 16,000 100,000 116,000 (106,800) (53,800) $ Yes (160,600) 40,000 3
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