Solution-What the budgeted Closing Cash Balance at the end

What the budgeted Closing Cash Balance at the end of January

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Reference no: EM132909966

Problem - Consider the following: Bank balance at 1 January $63,000 (in funds)

Budgeted cash receipts for January $70,000 and February $80,000.

Operating expenses are budgeted as December $43,000, January $46,000 and February $29,000.

Operating expenses are paid in cash in the month after they are incurred.

Ignore GST.

Depreciation expenses are budgeted as $5,000 per month and are included in the above operating expenses.

Based on this information, what the budgeted Closing Cash Balance at the end of January?

Reference no: EM132909966

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What the budgeted Closing Cash Balance at the end of January

Reference no: EM132909966

Reference no: EM132909966

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