Cash $320,000 Petty Cash Short-term paper due 2/27/20 Short-term paper due 6/30/20 Short-term paper due 12/31/20 Checks dated before 12/31/19 Checks dated after 1/1/20 Postage on hand Bank overdraft at bank with savings account Bank overdraft at bank with no other account 350 150,000 200,000 250,000 15,600 12,300 9,000 17,000 13,000 Which of the following would be the best reporting option for cash and cash equivalents? Cash $290,350 Cash equivalents $627,900 Cash and cash equivalents $987,250 O Cash $318,950 Cash equivalents $150,000 Cash $320,350 Cash equivalents $600,000
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
On December 31, 2019, Line Drive Apparel has the following items.
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