K2 Inc. have the following budgeted business transactions for the month of May: Insurance refund to be received Payments to be made to materials suppliers Payments to be made to employees Cash expected from customers Budgeted depreciation charges Interest to be paid to the bank Budgeted personal drawings £500 £15,000 £4,000 £25,000 £800 £40 £2,000 K2 Inc. are budgeting an overdraft at the bank of £4,000 on the 1st May. What is K2 Inc.'s budgeted cash position at the end of May? O £460 cash in the bank O £460 overdrawn £340 cash in the bank O £340 overdrawn
K2 Inc. have the following budgeted business transactions for the month of May: Insurance refund to be received Payments to be made to materials suppliers Payments to be made to employees Cash expected from customers Budgeted depreciation charges Interest to be paid to the bank Budgeted personal drawings £500 £15,000 £4,000 £25,000 £800 £40 £2,000 K2 Inc. are budgeting an overdraft at the bank of £4,000 on the 1st May. What is K2 Inc.'s budgeted cash position at the end of May? O £460 cash in the bank O £460 overdrawn £340 cash in the bank O £340 overdrawn
Chapter1: Financial Statements And Business Decisions
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The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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
Transcribed Image Text:K2 Inc. have the following budgeted business transactions for the month of May:
Insurance refund to be received
£500
Payments to be made to materials suppliers
Payments to be made to employees
Cash expected from customers
£15,000
£4,000
£25,000
Budgeted depreciation charges
£800
Interest to be paid to the bank
£40
Budgeted personal drawings
£2,000
K2 Inc. are budgeting an overdraft at the bank of £4,000 on the 1st May.
What is K2 Inc.'s budgeted cash position at the end of May?
O £460 cash in the bank
O £460 overdrawn
O £340 cash in the bank
O £340 overdrawn
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