Required information Skip to question [The following information applies to the questions displayed below.] The following trial balance was drawn from the records 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 $ 16,000 60,000 40,000 200,000 $ 316,000 $ 76,800 72,000 100,000 50,000 17,200 $ 316,000 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.)

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Chapter1: Financial Statements And Business Decisions
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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.)
Cash Budget for October
Beginning cash balance
Add: Cash receipts
Cash available
Less: Payments
Utilities payable
For inventory purchases
Payments minus receipts
Total budgeted payments
Cash surplus (shortage)
Will Havel need to borrow money during October?
0
0
Transcribed Image Text: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.) Cash Budget for October Beginning cash balance Add: Cash receipts Cash available Less: Payments Utilities payable For inventory purchases Payments minus receipts Total budgeted payments Cash surplus (shortage) Will Havel need to borrow money during October? 0 0
Required information
Skip to question
[The following information applies to the questions displayed below.]
The following trial balance was drawn from the records 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
$ 16,000
60,000
40,000
200,000
$ 316,000
$ 76,800
72,000
100,000
50,000
17,200
$ 316,000
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.)
Transcribed Image Text:Required information Skip to question [The following information applies to the questions displayed below.] The following trial balance was drawn from the records 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 $ 16,000 60,000 40,000 200,000 $ 316,000 $ 76,800 72,000 100,000 50,000 17,200 $ 316,000 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.)
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