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. Cashi Accounts receivable Inventory Store equipment Accumulated depreciation Accounts payable Line of credit loan Common stock Retained earninge 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.)
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. Cashi Accounts receivable Inventory Store equipment Accumulated depreciation Accounts payable Line of credit loan Common stock Retained earninge 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.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![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
$ 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.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fde883f2b-285d-4d55-8493-937a7e117d03%2F66ea512d-83f0-4a8b-a60c-3d69f99bac28%2Fr1i3wp_processed.jpeg&w=3840&q=75)
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
$ 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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