The Beginning Cash Balance Is $20000

question 206

Essay

The beginning cash balance is $20000. Sales are forecasted at $700000 of which 80% will be on credit. 70% of credit sales are expected to be collected in the year of sale. Cash expenditures for the year are forecasted at $500000. Accounts receivable from previous accounting periods totaling $12000 will be collected in the current year. The company is required to make a $20000 loan payment and an annual interest payment on the last day of the year. The loan balance as of the beginning of the year is $120000 and the annual interest rate is 10%.
Instructions
How much will be reported as 'cash' on the budgeted balance sheet?

Recognize cultural patterns and shared rules that define group membership and identity.

Understand the principles of culturally sensitive caring and communication with families.

Understand the concept of diversity and its significance in educational settings.

Identify and critique the deficit perspective and its impact on educational relationships.

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Definitions:

Type A Blood

A blood group within the ABO system characterized by the presence of A antigens and anti-B antibodies in the plasma.

Antibodies

Antibodies are protein molecules produced by the immune system in response to foreign substances, helping to fight off infections.

Periodontitis

A serious gum infection that damages the soft tissue and destroys the bone that supports teeth, possibly leading to tooth loss.

Atherosclerosis

Cardiovascular disorder in which lipid-rich plaques form on the interior walls of blood vessels and narrow the vessels.