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Business
Accounting
Cash Budget.

Cash Budget.

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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Subject: accounting 

Required information [The following information applies to the questions displayed below.] The following trial balance was drawn from the records of Havel Company as of October 1, year 2. 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 Less: Payments For inventory purchases For S&A expenses $ 16,000 60,000 40,000 200,000 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.) Total budgeted payments Cash surplus (shortage) Will Havel need to borrow money during October? $316,000 $ $76,800 72,000 100,000 50,000 17,200 $316,000 Yes 16,000 100,000 116,000 106,800 106,800
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] The following trial balance was drawn from the records of Havel Company as of October 1, year 2. 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 Less: Payments For inventory purchases For S&A expenses $ 16,000 60,000 40,000 200,000 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.) Total budgeted payments Cash surplus (shortage) Will Havel need to borrow money during October? $316,000 $ $76,800 72,000 100,000 50,000 17,200 $316,000 Yes 16,000 100,000 116,000 106,800 106,800
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