Zygot Biotech Company is budgeting for the 3rd quarter, and provides the following data: The cash balance at June 30 is projected to be $5,600. There are no financing transactions planned in the 3rd quarter. What is the projected cash balance at the end of July?

Question

Zygot Biotech Company is budgeting for the 3rd quarter, and provides the following data:  The cash balance at June 30 is projected to be $5,600. There are no financing transactions planned in the 3rd quarter. What is the projected cash balance at the end of July?

Quizplus · Accepted Answer

There is no information given about cash inflows or outflows in July, so the projected cash balance at the end of July would simply be the June 30 balance of $5,600 carried forward. Therefore, the projected cash balance at the end of July would be $5,600.

Zygot Biotech Company Is Budgeting for the 3rd Quarter, and Provides