Hutchinson,Inc The Cash Balance on June 30 Is Projected to Be

question 130

Multiple Choice

Hutchinson,Inc.provides the following data taken from its third quarter budget: $$\begin{array} { | l | r | r | r | } \hline & { \text { Jul } } & { \text { Aug } } &{ \text { Sep } } \\\hline \text { Cash collections } & \$ 68,000 & \$ 34,000 & \$ 42,000 \\\hline \text { Cash payments: } & & & \\\hline \text { Purchases of direct materials } & 31,000 & 32,000 & 25,000 \\\hline \text { Operating expenses } & 11,000 & 19,000 & 20,000 \\\hline \text { Capital expenditures } & 0 & 34,000 & 7000 \\\hline\end{array}$$ The cash balance on June 30 is projected to be $12,000.Based on the above data,calculate the shortfall the company is projected to have at the end of August.

• A) $34,000
• B) $23,000
• C) $13,000
• D) $38,000

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