eBook Question Content Area What is the amount of budgeted cash payments if purchases are budgeted for $470,000 and the beginning and ending balances of accounts payable are $98,000 and $89,000, respectively? Cash paid $fill in the blank 1

eBook Question Content Area What is the amount of budgeted cash payments if purchases are budgeted for $470,000 and the beginning and ending balances of accounts payable are $98,000 and $89,000, respectively? Cash paid $fill in the blank 1

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter10: Financial Statements And Reports

Section: Chapter Questions

Problem 3.5C

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Concept explainers

Cash budget

A cash budget is an estimate of an organization's cash flow for the future period. A cash budget forecasts future cash receipts and payments from various sources for a fiscal year. A cash budget can be created once a month or once a week to determine the organization's cash position and ensure its performance in relation to the budget. It aids in determining whether the company has enough cash and cash equivalents to meet its operational needs in the future. If cash receipts are insufficient to cover future expenses, an organization may plan to obtain funds from other sources. After estimating the sales, purchase, and capital expenditure budgets for the year, management develops a cash budget. These budgets are created to ensure that an organization's cash flow is managed. It is important to note that only cash transactions are recorded when actual cash enters and exits an organization.

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What is the amount of budgeted cash payments if purchases are budgeted for $470,000 and the beginning and ending balances of accounts payable are $98,000 and $89,000, respectively?

Cash paid $fill in the blank 1

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