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Wittaler [7]
3 years ago
6

MC Qu. 122 Walter Enterprises expects... Walter Enterprises expects its September sales to be 20% higher than its August sales o

f $225,000. Purchases were $175,000 in August and are expected to be $195,000 in September. All sales are on credit and are collected as follows: 30% in the month of the sale and 70% in the following month. Merchandise purchases are paid as follows: 20% in the month of purchase and 80% in the following month. The beginning cash balance on September 1 is $8,400. The ending cash balance on September 30 would be:
Business
1 answer:
padilas [110]3 years ago
7 0

Answer:

Ending cash balance $67,900

Explanation:

The computation of the ending cash balance is given below:

Schedule of expected cash collection for September

From august sales (70% of 225,000) 157,500

From sept. sales (30% of 270,000) 81,000

Total cash collection$238,500

Now  

Schedule of expected cash payment

For august purchase (80% of 175,000) 140,000

Foor september purchase (20% of 195,000) 39,000

Total cash payment $179,000

Now  

Beginning cash balance 8,400

Budgeted cash collection 238,500

Total available cash 246,900

Budgeted cash payment -179,000

Ending cash balance $67,900

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What does required fields mean someone please answer
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The starting point for preparing the operating activities section using the indirect method is ______. Multiple choice question.
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