Use the Information Below to Answer the Following Questions

question 33

Multiple Choice

Use the information below to answer the following questions.
Jackson Bottle Yard, a recycling glass company, has supplied the following information in relation to their actual sales in 2015 and planned sales for the first quarter of 2016. Past records indicate that expected receipts collected from debtors will be: 60 per cent in the month of sale
40 per cent in the month following the sale
-If the opening cash balance at the beginning of the month is $27,500, total cash inflows for the month are $38,000 and total cash outflows are $78,000k the opening cash balance at the beginning of the next month is:

• A) $12,500 (deficit)
• B) cannot be calculated
• C) $67,500 (surplus)
• D) $12,500 (surplus)

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Definitions:

Underground Body

A mass of geologic material beneath the Earth's surface, such as rock formations, ore bodies, or aquifers.

Continental Settings

The environmental and geological conditions found on the continents, as opposed to oceanic settings.

High Continental Plateaus

Elevated expanses of land that sit significantly higher than the surrounding area, typically formed by tectonic activity.

Explosive Calderas

Large, circular depressions formed by volcanic eruptions through the collapse of land following a massive explosion or the ejection of magma.