The following trial balance was drawn from the records of Havel Company as of October 1, year
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Question:
The following trial balance was drawn from the records of Havel Company as of October 1, year 2.
Cash | $ | 16,000 | |||||
Accounts receivable | 60,000 | ||||||
Inventory | 40,000 | ||||||
Store equipment | 200,000 | ||||||
Accumulated depreciation | $ | 76,800 | |||||
Accounts payable | 72,000 | ||||||
Line of credit loan | 100,000 | ||||||
Common stock | 50,000 | ||||||
Retained earnings | 17,200 | ||||||
Totals | $ | 316,000 | $ | 316,000 | |||
Indicate whether Havel will need to borrow money during October by preparing October's Cash Budget. (Negative amounts should be indicated by a minus sign.)
Related Book For
Survey Of Accounting
ISBN: 9781260575293
6th Edition
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds
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