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Romashka-Z-Leto [24]
2 years ago
14

Nikolas Industries has a cash balance of $20,000 on July 1, 20x8. The company is in the process of preparing the cash budget for

the third quarter, with budgeted cash collections and payments as follows:
July August September
Cash Collections $25,000 $22,000 $20,000
Cash Payments:
Purchases of Inventory 5,800 7,000 6,200
Operating Expenses 3,500 4,600 5,300

There are no budgeted capital expenditures or financing transactions during the quarter. Using the data above, what is the projected cash balance at the end of September?
Business
1 answer:
rodikova [14]2 years ago
5 0

Answer:

$54,600

Explanation:

Cash Budget for the 3rd Quarter

                                                July              Aug                  Sep

Receipts :

Cash Collections                $25,000      $22,000          $20,000

Total Receipts                    $25,000      $22,000          $20,000

Expenditures :

Purchases of Inventory       $5,800       $7,000               $6,200

Operating Expenses           $3,500       $4,600               $5,300

Total Expenditures              $9,300       $11,600              $11,500

Net Receipts                       $15,700      $10,400              $8,500

Balance b/d                       $20,000      $35,700            $46,100

Balance c/d                        $35,700      $46,100            $54,600

therefore,

The projected cash balance at the end of September is $54,600

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