The Singletary Corporation had a beginning cash balance of $7,050 during the month of March. This company is expected to collect $4,500 from its outstanding accounts receivable. The projected cash sales for March are $9,000. The outstanding accounts payable balance is $10,000, of which 30% is to be paid during March. Operating expenses that are to be paid during March are projected to be $12,000. If preparing a cash budget for the month of March, what is the ending cash balance?
举一反三
- During the month of February, Hoffer Company had cash receipts of $7,500 and cash disbursements of $8,600. The February 28 cash balance was $1,800. What was the January 31 cash balance? () A: $700. B: $1,100. C: $2,900. D: $0.
- Which of the following would not go in a cash budget? A: Receipts from sales B: Opening cash balance C: Payments to creditors D: Depreciation E: Expenses paid
- Guangli Co. Ltd. established a ￥500 petty cash fund several months ago and replenishes it at the end of each month. During the first two weeks of March, ￥285 was disbursed from the petty cash box for miscellaneous items. If a surprise count of the fund is made on March 15, the petty cash box should contain A: ￥500 cash. B: ￥215 cash. C: ￥215 cash left for March plus ￥500 cash for each month since creation of the petty cash fund. D: ￥215 cash and receipts for ￥285 in expenditures.
- Which of the following accounts normally contain a credit balance? A: land B: Accounts Receivable. C: Accounts Payable. D: Cash
- On 3rd March credit sales were made of $25,000, cash sales of $4,500 were made, and debts outstanding of $3,200 were written off as irrecoverable. What will be the total of entries for 3rd March to the receivables control account? A: Debit $21,800 B: Credit $21,800 C: Debit $26,300 D: Credit $26,300