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Furkat [3]
3 years ago
6

Ari, Inc. is working on its cash budget for December. The budgeted beginning cash balance is $23,000. Budgeted cash receipts tot

al $136,000 and budgeted cash disbursements total $135,000. The desired ending cash balance is $58,000. To attain its desired ending cash balance for December, the company needs to borrow:
Business
1 answer:
xenn [34]3 years ago
4 0

Answer:

The business will need to borrow $34,000

Explanation:

We will need to analyse the cash flows the business has in order to determine how much needs to be borrowed to meet the ending cash balance desired.

The opening cash balance is $23,000, cash inflow as receipts is $136,000

So total cash on hand will be 23,000+ 136,000= $159,000

The cash on hand less disbursements will give ending balance

Ending balance = 159,000 - 135,000

Ending balance= $24,000

Desired closing balance is $58,000

Balance to meet desired cash= 58,000 - 24,000

Balance to meet desired cash= $34,000

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