Sundy Company provided the following information for the month of August: $$\begin{array} { l l }
\text { Beginning cash balance } & \$ 7,000 \
\text { Cash receipts } & 549,000 \
\text { Cash disbursements } & 523,000
\end{array}$$ Sundy borrowed $15,000 and repaid $16,000 during the month.How much will Sundy's report on its budgeted balance sheet at August 31 for cash?
A)$32,000
B)$33,000
C)$26,000
D)$25,000

Question

Sundy Company provided the following information for the month of August: $$\begin{array} { l l } 
\text { Beginning cash balance } & \$ 7,000 \
\text { Cash receipts } & 549,000 \
\text { Cash disbursements } & 523,000
\end{array}$$ Sundy borrowed $15,000 and repaid $16,000 during the month.How much will Sundy's report on its budgeted balance sheet at August 31 for cash?
A)$32,000
B)$33,000
C)$26,000
D)$25,000

Quizplus · Accepted Answer

Beginning cash balance + Cash receipts + Borrowings - Cash disbursements - Repayments = Ending cash balance$7,000 + $549,000 + $15,000 - $523,000 - $16,000 = $32,000

Sundy Company Provided the Following Information for the Month of August