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2 years ago

Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget.

Business

1 answer:

sweet-ann [11.9K]2 years ago

6 0

Answer:

D. $53,000.

Explanation:

The computation of the ending cash balance is shown below:

Beginning cash balance $95,000

Add: Receipts

Cash sales $418,000

Total cash receipts (a) $513,000

Deduct: Payments:

Cash payment for purchases -$273,000

Cash payment for salaries -$96,000

Other cash expenses -$58,000

Repayment of bank loan -$33,000

Total cash payments (b) $460,000

Net receipts /( payments) (a) - (b) $53,000

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Answer:

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3 years ago

whiche one of the following are not elements of an insurable risk a) determinable probability distribution b) calculate chance o

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Answer:

okay

Explanation:

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3 years ago

Read 2 more answers

When you purchase an item in a store you may be charged

labwork [276]

Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.
When you purchase an item in a store you may be charged by Sales tax. It is <span>a tax on sales or on the receipts from sales.</span>

6 0

3 years ago

On January 1 of the current year, Barton Corporation issued 11% bonds with a face value of $99,000. The bonds are sold for $94,0

Bogdan [553]

Answer:

$11,880

Explanation:

Calculation to determine The bond interest expense for the year ended December 31 is

First step

Semiannual interest=($99,000 * 0.11 * 6/12)

Semiannual interest= $5445

Second step

Semi-annual discount amortization

Semi-annual discount amortization=($99,000 - $94,050)/5*/12

Semi-annual discount amortization=($4950 / 5)*6/12

Semi-annual discount amortization= 495

Third step

Semiannual interest expense=(5445 + 495)

Semiannual interest expense = $5940

Now let determine the bond interest expense

Bond interest expense =($5940 * 2)

Bond interest expense = $11880

Therefore The bond interest expense for the year ended December 31 is $11,880

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3 years ago

When reconciling a bank account, which one of the following is considered a timing difference (difference between the bank balan

DanielleElmas [232]

Answer:

Outstanding checks

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One of the reasons why a cash book and a bank statement might <em>not show identical entries arise</em> from outstanding checks.

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3 years ago