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polet [3.4K]
3 years ago
10

​Clyde, Inc. has a cash balance of $ 20 comma 000$20,000 on April 1. The company is now preparing the cash budget for the second

quarter. Budgeted cash collections and payments are as​ follows: Apr May Jun Cash collections $ 20 comma 000$20,000 $ 25 comma 000$25,000 $ 25 comma 000$25,000 Cash​ payments: Purchases of direct materials 5 comma 8005,800 5 comma 0005,000 4 comma 0004,000 Operating expenses 5 comma 3005,300 5 comma 0005,000 4 comma 6004,600 There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above​ data, calculate the projected cash balance at the end of April. $41,000 $35,000 $45,000 $25,000
Business
1 answer:
elena-14-01-66 [18.8K]3 years ago
7 0

Answer:

the projected cash balance at the end of April is $35700

Explanation:

Projected cash balance at the end of April

= Cash Balance at the beginning of the month + Total cash collection in the month - total cash payments during the month

=$20000 + $25000 - ($4000 + $5300)

= $35700

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1 year ago
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Ivahew [28]

Answer:

a debit balance of $1,300

Explanation:

Generally in the income statement, a net profit is the excess of income over expenses during a given period and this will give a credit balance in the income statement, but this will be a debit balance in Income Summary to close the account.

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Since Camera Obscura Enterprises made a net profit of $1,300 in the month of June, the balance in Income Summary will therefore be a debit balance of $1,300.

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4 years ago
In 2019, Kelsey sustained a loss on the theft of a painting. She had paid $20,000 for the painting, but it was worth $40,000 at
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4 years ago
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scoray [572]

Answer:

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