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Nataly [62]
3 years ago
7

On January 1, Bonita Industries has a beginning cash balance of $40000. During the year, the company expects cash disbursements

of $300000 and cash receipts of $240000. If Bonita requires an ending cash balance of $42000, the company must borrow
Business
1 answer:
cluponka [151]3 years ago
3 0

Answer:

company must borrow =  $66,000

Explanation:

given data

beginning cash balance = $40000

expects cash disbursements = $300000

cash receipts = $240000

ending cash balance = $42000

to find out

company must borrow

solution

first we get here Ending Balance that will be as

Ending Balance = beginning cash balance + cash receipts - expects cash disbursements  ..................1

put here value we get

Ending Balance = $40000 + $240000 - $300000

Ending Balance = -$24000

so company must borrow = $42,000 + $24,000

company must borrow =  $66,000

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5 0
1 year ago
Environmental Designs issues 4,000 shares of its $1 par value common stock at $15 per share. (1) Record the issuance of the stoc
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Answer:

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Review the following statements and select the ones which accurately describe a Petty Cash fund. Select all answers which apply.
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Answer:

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