Question

Flintstone Enterprises prepared the following cash budget for June: Cash receipts: $312,000 Cash disbursements: $274,000 Short-term financing: $2,000 What amount will Flintstone Enterprises report for cash on the June balance sheet

Answer 1

$588000 will Flintstone Enterprises report for cash on the June balance sheet

What is balance sheet?

A balance sheet is a summary of an individual's or organization's financial balances, whether it is a sole proprietorship, a business partnership, a corporation, a private limited company, or another organization such as a government or not-for-profit entity.

A balance sheet provides a snapshot of your company's financial position at any given time. A balance sheet, along with an income statement and a cash flow statement, can assist business owners in evaluating their company's financial standing.

The balance sheet's basic equation is Assets = Liabilities + Equity. Analysts should be aware that various assets and liabilities may be measured differently. Some items, for example, are measured at historical cost or a variation thereof, while others are measured at fair value.

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