Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget.
A. Beginning cash balance on June 1, $94,000.
B. Cash receipts from sales, $413,000.
C. Budgeted cash disbursements for purchases, $268,000.
D. Budgeted cash disbursements for salaries, $95,000.
E. Other budgeted expenses, $57,000.
F. Cash repayment of bank loan, $32,000.
G. Budgeted depreciation expense, $34,000.
A) $55,000.
B) $21,000.
C) $87,000.
D) $112,000.
E) $78,000.

Question

Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget. 
A. Beginning cash balance on June 1, $94,000.
B. Cash receipts from sales, $413,000.
C. Budgeted cash disbursements for purchases, $268,000.
D. Budgeted cash disbursements for salaries, $95,000.
E. Other budgeted expenses, $57,000.
F. Cash repayment of bank loan, $32,000.
G. Budgeted depreciation expense, $34,000.
A) $55,000.
B) $21,000.
C) $87,000.
D) $112,000.
E) $78,000.

Quizplus · Accepted Answer

The ending cash balance is calculated as follows:Beginning cash balance: $94,000Add: Cash receipts from sales: $413,000Less: Budgeted cash disbursements for purchases: $268,000Less: Budgeted cash disbursements for salaries: $95,000Less: Other budgeted expenses: $57,000Less: Cash repayment of bank loan: $32,000Add: Budgeted depreciation expense: $34,000Ending cash balance: $55,000

Use the Following Information to Determine the Ending Cash Balance