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vovikov84 [41]
3 years ago
14

Santos Co. is preparing a cash budget for February. The company has $18,000 cash at the beginning of February and anticipates $6

6,000 in cash receipts and $116,000 in cash disbursements during February. What amount, if any, must the company borrow during February to maintain a $5,000 cash balance? The company has no loans outstanding on February 1. (Negative cash balances, if any, should be indicated with minus sign.)
Business
1 answer:
DaniilM [7]3 years ago
3 0

Answer:

$5,000

Explanation:

The computation of Ending Cash balance is shown below:-

Financing

Preliminary cash Balance = Beginning cash balance + Cash receipt - Cash Disbursement + Financing

= $18,000 + $66,000 - $116,000

= -$32,000

Financing = Preliminary cash Balance + Minimum Cash Balance Required

= $32,000 + $5,000

= $37,000

Ending cash balance = Financing - Preliminary cash Balance

= $37,000 - $32,000

= $5,000

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You purchased 250 shares of a particular stock at the beginning of the year at a price of $68.12. the stock paid a dividend of $
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Answer:

$9.18

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3 years ago
Which concept do businesses use to earn income?
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Raul owned a small graphic design business. He used 3-D software and computers to create animations for his clients. Which facto
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Read more on:

brainly.com/question/20387657

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