Te 2006 budget for gates and company includes 10000000for

Reference no: EM13614705

1. Memphis Corporation has a cash balance of $200,000.00 on1/1/2008. The company's sales budget for the year was$500,000.00. However, only 80% of the sales for the year arecollectible during the year. The company's expected cash outflow for the year was expected to be $800,000.00. What is theexpected final cash balance? Is it a cash surplus or deficit?

2. Gates and Company has a cash balance of $150,000.00 on1/1/08. The company's total expected cash inflow for the yearwas $500,000.00 and its expected cash outflow was $700,000.00. Whatis the expected final cash balance? Is it a cash surplus ordeficit?

3. The 2006 budget for Gates and Company includes $100,000.00for stationery expense. The company bought and paid for $50,000.00worth of stationery, and it made a commitment with Office Max tobuy additional $25,000.00 worth of stationery. What is the balance now in the stationery budget?

Reference no: EM13614705

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