Use the following information to determine the ending cash balance to be reporte

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. Answers a. $55,000. b. $21,000. c. $87,000. d. $112,000. e. $78,000.

Explanation / Answer

cash balance = 94000 + 413000 - 268000 -95000 - 57000 - 32000 = 55,000

Hence a) $55,000

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