Q#1 Use the following information to prepare a cash budget for the month ended on March 31 for Gado Merchandising Company. The budget should show expected cash receipts and cash disbursements for the month of March and the balance expected on March 31. Beginning cash balance on March 1, $72,000. Cash receipts from sales, $300,000. Budgeted cash disbursements for purchases, $140,000. Budgeted cash disbursements for salaries, $80,000. Other budgeted cash expenses, $45,000. Cash repayment of bank loan, $20,000.
Q#1 Use the following information to prepare a cash budget for the month ended on March 31 for Gado Merchandising Company. The budget should show expected cash receipts and cash disbursements for the month of March and the balance expected on March 31. Beginning cash balance on March 1, $72,000. Cash receipts from sales, $300,000. Budgeted cash disbursements for purchases, $140,000. Budgeted cash disbursements for salaries, $80,000. Other budgeted cash expenses, $45,000. Cash repayment of bank loan, $20,000.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter4: Internal Control And Cash
Section: Chapter Questions
Problem 66.2C
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![Q#1
Use the following information to prepare a cash
budget for the month ended on March 31 for
Gado Merchandising Company. The budget
should show expected cash receipts and cash
disbursements for the month of March and the
balance expected on March 31.
Beginning cash balance on March 1, $72,000.
Cash receipts from sales, $300,000.
Budgeted cash disbursements for purchases,
$140,000.
Budgeted cash disbursements for salaries,
$80,000.
Other budgeted cash expenses, $45,000.
Cash repayment of bank loan, $20,000.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F99c93fba-f5c9-4e64-b185-8f4e4bbd51f0%2F96d17284-c003-44db-a762-d016f45cc3f8%2Fuoccbi_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Q#1
Use the following information to prepare a cash
budget for the month ended on March 31 for
Gado Merchandising Company. The budget
should show expected cash receipts and cash
disbursements for the month of March and the
balance expected on March 31.
Beginning cash balance on March 1, $72,000.
Cash receipts from sales, $300,000.
Budgeted cash disbursements for purchases,
$140,000.
Budgeted cash disbursements for salaries,
$80,000.
Other budgeted cash expenses, $45,000.
Cash repayment of bank loan, $20,000.
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