Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget. a. Beginning cash balance on June 1, $94,600. b. Cash receipts from sales, $416,000. c. Budgeted cash disbursements for purchases, $271,000. d. Budgeted cash disbursements for salaries, $95,600. e. Other budgeted cash expenses, $57,600. f. Cash repayment of bank loan, $32,600. g. Budgeted depreciation expense, $34,600. Choose an answer below:$19,200. $53,800. $76,800. $86,400. $111,400.

Question

Margaret Pittman

Business

4 January, 05:43

Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget. a. Beginning cash balance on June 1, $94,600. b. Cash receipts from sales, $416,000. c. Budgeted cash disbursements for purchases, $271,000. d. Budgeted cash disbursements for salaries, $95,600. e. Other budgeted cash expenses, $57,600. f. Cash repayment of bank loan, $32,600. g. Budgeted depreciation expense, $34,600. Choose an answer below:$19,200. $53,800. $76,800. $86,400. $111,400.

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Batman · Answer 1

The ending cash balance to be reported on the month ended June 30 cash budget is $53,800

Explanation:

The computation of ending cash balance is shown below:

= Beginning cash balance + cash receipts from sales - budgeted cash disbursements for purchase - Budgeted cash disbursements for salaries - Other budgeted cash expenses - Cash repayment of bank loan

= $94,600 + $416,000 - $271,000 - $95,600 - $57,600 - $32,600

= $53,800

The Budgeted depreciation expense is a non cash expense. So, it is not considered in the computation part.

Hence, the ending cash balance to be reported on the month ended June 30 cash budget is $53,800