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Sondari Corporation Estimates the Following for 2010 Ending Cash Balance for 2009 Was $150,000

Question 113

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Sondari Corporation estimates the following for 2010:
 Sales (all on account) $600,000 Collections of accounts receivable 400,000 Proceeds from bond issuance 200,000 Proceeds from sale of common stock 300,000 Merchandise bought on credit 350,000 Payments of accounts payable 300,000 Cash payments of expenses 60,000 Cash purchase of computerized equipment 100,000 Depreciation of computerized equipment 10,000 Payment on notes payable 20,000\begin{array} { | l r | } \hline \text { Sales (all on account) } & \$ 600,000 \\\text { Collections of accounts receivable } & 400,000 \\\text { Proceeds from bond issuance } & 200,000 \\\text { Proceeds from sale of common stock } & 300,000 \\\text { Merchandise bought on credit } & 350,000 \\\text { Payments of accounts payable } & 300,000 \\\text { Cash payments of expenses } & 60,000 \\\text { Cash purchase of computerized equipment } & 100,000 \\\text { Depreciation of computerized equipment } & 10,000 \\\text { Payment on notes payable } & 20,000 \\\hline\end{array}
Ending cash balance for 2009 was $150,000.
Prepare a cash budget to determine the ending cash balance for 2010.

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