Jacksonville LLP is working on its Cash Budget for next year. It collected the following information from
Fantastic news! We've Found the answer you've been seeking!
Question:
Jacksonville LLP is working on its Cash Budget for next year. It collected the following information from Quarter 1: Beginning Cash Balance $50,000, Cash Collections from Customers $40,000, and Total Cash Disbursements $63,000. Quarter 2 information: Collections from Customers $90,000, Total Cash Disbursements $30,000. Quarter 3 information: Collections from Customers $75,000, Total Cash Disbursements $42,000. Quarter 4 information: Collections from Customers $120,000, Total Cash Disbursements $60,000. What is Jacksonville's Ending Cash Balance at the end of next year?
a.) $375,000
b.) $195,000
c.) $240,000
d.) $180,000
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date: