Diamonde Products Inc The Following Information Is Also Available:
?The Cash Balance on for the Second

question 71

Multiple Choice

Diamonde Products Inc.would like to prepare a summary cash budget for the second quarter of 2009.The following information regarding operating activities from the cash receipts and cash disbursements budgets are available:
$\begin{array}{lrrr}&\underline{\text { January}} &\underline{\text { February } }&\underline{\text { March }}\\\text { Cash receipts }&\$ 10000 & \$ 16000 & \$ 250000 \\\text { Cash disbursements }&8000 &18000&160000\end{array}$
The following information is also available:
?The cash balance on 31 March 2009 was $\$ 3000$ .
?Equipment costing $\$ 6000$ will be purchased in May. A down payment of $\$ 2000$ will be made in May and payments of $\$ 2000$ will be made in each subsequent month thereafter until the equipment is paid in full.
?Dividends in the amount of $\$ 1000$ will be paid in June.
What is the cash balance at the end of June expected to be?

• A) $1000
• B) $7000
• C) $4000
• D) $5000

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