On June 30,Kahlil Company's cash balance is $4,000.Kahlil is now preparing their cash budget for the third quarter of the year.The following data is provided:

The amount of cash that should be shown in the budgeted balance sheet as of September 30 would be ________.

Question

On June 30,Kahlil Company's cash balance is $4,000.Kahlil is now preparing their cash budget for the third quarter of the year.The following data is provided:

The amount of cash that should be shown in the budgeted balance sheet as of September 30 would be ________.

Quizplus · Accepted Answer

To calculate the budgeted cash balance for September 30, we need to calculate the total cash receipts and subtract the total cash disbursements for July, August, and September.

Total cash receipts = $24,000 + $27,000 + $18,000 = $69,000 
Total cash disbursements = $17,000 + $26,000 + $12,000 = $55,000

Budgeted cash balance for September 30 = $4,000 + ($69,000 - $55,000) = $7,000

Therefore, the amount of cash that should be shown in the budgeted balance sheet as of September 30 is $7,454 (option C).

On June 30,Kahlil Company's Cash Balance Is $4,000