Lyon Corp Has Provided a Part of Its Budget for the the Second

question 24

Multiple Choice

Lyon Corp. has provided a part of its budget for the second quarter: $$\begin{array} { | l | r | r | r | } \hline & { \text { Apr } } & { \text { May } } & { \text { Jun } } \\\hline \text { Cash collections } & \$ 40,000 & \$ 43,000 & \$ 50,000 \\\hline \text { Cash payments: } & & & \\\hline \text { Purchases of direct materials } & 7200 & 7200 & 6000 \\\hline \text { Operating expenses } & 7000 & 9000 & 7000 \\\hline \text { Capital expenditures } & 5000 & 0 & 0 \\\hline\end{array}$$ The cash balance on April 1 is $12,000. Assume that there will be no financing transactions or costs during the quarter. Calculate the projected cash balance at the end of June.

• A) $109,600
• B) $32,800
• C) $96,600
• D) $59,600

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