Use the Following Information to Determine the Ending Cash Balance

question 151

Multiple Choice

Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget.
A. Beginning cash balance on June 1, $94,000.
B. Cash receipts from sales, $413,000.
C. Budgeted cash disbursements for purchases, $268,000.
D. Budgeted cash disbursements for salaries, $95,000.
E. Other budgeted expenses, $57,000.
F. Cash repayment of bank loan, $32,000.
G. Budgeted depreciation expense, $34,000.

• A) $55,000.
• B) $21,000.
• C) $87,000.
• D) $112,000.
• E) $78,000.

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Definitions:

Economic Rent

The price paid for the use of land and other natural resources that are in fixed (perfectly inelastic) supply.

Antipoverty Programs

Governmental or non-profit organization initiatives designed to reduce or eliminate poverty by providing financial assistance, education, or job training.

Productive Capacity

Refers to the maximum output a system, economy, or machine can produce over a period of time under normal conditions.

Supply of Land

The total availability of land resources that can be used for various purposes, often considered perfectly inelastic.