The following budgeted May cash information is available for Salado Corp.: Net after-tax income $470,400 Depreciation expense
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The following budgeted May cash information is available for Salado Corp.:
Net after-tax income | $470,400 |
Depreciation expense | 78,680 |
Accrued income tax expense | 114,800 |
Increase in Accounts Receivable for month | 11,200 |
Decrease in Accounts Payable for month | 9,800 |
Estimated bad debts expense | 5,740 |
Dividends declared in May | 49,000 |
Dividends paid in May | 65,800 |
If Salado’s May 1 cash balance is $32,200, what is the company’s budgeted May 31 cash balance?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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