The following information is available for Pharoah Company for the month of Janu
ID: 2427506 • Letter: T
Question
The following information is available for Pharoah Company for the month of January: expected cash receipts $59,400; expected cash disbursements $66,090; and cash balance on January 1, $12,230. Management wishes to maintain a minimum cash balance of $7,570. Prepare a basic cash budget for the month of January. PHAROAH COMPANY Cash Budget For the Month of January $ : : : $
PHAROAH COMPANY
Cash Budget
For the Month of January
PHAROAH COMPANY
Cash Budget
For the Month of January
$
AddLess: Cash disbursementsExcess of available cash over cash disbursementsBeginning cash balanceBorrowingsEnding cash balanceCash receiptsTotal available cash Excess of available cash over cash disbursementsCash receiptsBeginning cash balanceCash disbursementsBorrowingsEnding cash balanceTotal available cash AddLess: Excess of available cash over cash disbursementsCash disbursementsBorrowingsEnding cash balanceTotal available cashCash receiptsBeginning cash balance Total available cashCash disbursementsCash receiptsExcess of available cash over cash disbursementsBorrowingsEnding cash balanceBeginning cash balance AddLess: Total available cashExcess of available cash over cash disbursementsCash disbursementsBeginning cash balanceBorrowingsCash receiptsEnding cash balance Excess of available cash over cash disbursementsBorrowingsCash receiptsEnding cash balanceCash disbursementsTotal available cashBeginning cash balance$
Explanation / Answer
PHAROAH COMPANY
PHAROAH COMPANY
Cash Budget For the Month of January Opening balance $ 12,230.00 Add: Expected Cash Receipts $ 59,400.00 Less: Expected cash disbursements $ 66,090.00 Less: Minimum Cash balacne $ 7,570.00 Net Cash position (2,030.00)Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.