Gibbs Company Gibbs Company prepared a cash budget by quarters for the upcoming year. Missing data amounts are indicated with question marks or lower case letters; these lower case letters will be referred to in the questions that follow.
Gibbs requires a minimum balance of $10,000 to start a quarter.
All data are in thousands.
Gibbs Corporation
Cash Budget
Refer to Gibbs Company. The cash balance at the beginning of the second quarter (item e) is:

Question

Gibbs Company Gibbs Company prepared a cash budget by quarters for the upcoming year. Missing data amounts are indicated with question marks or lower case letters; these lower case letters will be referred to in the questions that follow.
Gibbs requires a minimum balance of $10,000 to start a quarter.
All data are in thousands.
Gibbs Corporation
Cash Budget
 Refer to Gibbs Company. The cash balance at the beginning of the second quarter (item e) is:

Quizplus · Accepted Answer

The minimum balance required to start a quarter is $10, so the cash balance at the beginning of the second quarter cannot be lower than $10.

Gibbs Company Gibbs Company Prepared a Cash Budget by Quarters