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MAXImum [283]
3 years ago
13

During September, the capital expenditure budget indicates a $520000 purchase of equipment. The ending September cash balance fr

om operations is budgeted to be $67000. The company wants to maintain a minimum cash balance of $35000. What is the minimum cash loan that must be planned to be borrowed from the bank during September?
Business
2 answers:
wariber [46]3 years ago
7 0

Answer:

$488,000

Explanation:

He capital expenditure balance indicates a $520,000 purchase of equipment.

September ending cash balance is budgeted at $67,000

The company wants to maintain a minimum cash balance of $35,000

Therefore the minimum cash loan to be borrowed from the bank can be calculated as follows

= $520,000-$67,000+$35,000

= $488,000

Hence, the minimum cash loan that must be planned to be borrowed from the bank during September is $488,000

alexgriva [62]3 years ago
7 0

Answer:

the minimum cash loan that must be planned to be borrowed is $418,000.

Explanation:

The Cash Budget is prepared to highlight times for cash surpluses - allowing arrangements for investments of those surpluses to gain maximum return.

The Cash Budget also highlight times for Cash deficit - allowing for short term alternative sources of finance.

<u>September Cash Budget Reconciliation :</u>

Purchase of Equipment                 $520,000

<em>Less </em>Cash Balance                          ($67,000)

<em>Less</em> Minimum Cash Balance         ($35,000)

Budgeted Loan Balance                 $418,000

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