If the following projections have been made, what is the projected ending cash balance? Cash sales,...
If the following projections have been made, what is the projected ending cash balance?
Cash sales, $380,000
Beginning cash balance, $30,000
Operating expenses of $420,000, including depreciation of $20,000
Interest expense of $12,000 is included in operating expenses
Borrowing $50,000
End-of-period accrued liabilities of $20,000 for operating expenses
a. $80,000
b. $40,000
c. $52,000
d. $48,000
Homework Answers
Ending cash balance = Beginning cash Balance + cash sales + borrowing - operating expenses paid
= $30000 +380000+50000-(420000-20000-20000)
= $80000
Option a. is correct answer.
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