Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget. Beginning cash balance on June 1, $73,000.
Cash receipts from sales, $413,000.
Budgeted cash disbursements for purchases, $268,000.
Budgeted cash disbursements for salaries, $35,000.
Other budgeted cash expenses, $57,000.
Cash repayment of bank loan, $32,000.
Budgeted depreciation expense, $34,000.
A) $94,000.
B) $60,000.
C) $126,000.
D) $149,000.
E) $21,000.

Question

Quizplus · Accepted Answer

The ending cash balance is calculated as follows:Beginning cash balance: $73,000Add: Cash receipts from sales: $413,000Less: Budgeted cash disbursements for purchases: $268,000Less: Budgeted cash disbursements for salaries: $35,000Less: Other budgeted cash expenses: $57,000Less: Cash repayment of bank loan: $32,000Add: Budgeted depreciation expense: $34,000Ending cash balance: $94,000

Use the Following Information to Determine the Ending Cash Balance