Question

The following budgeted May 2013 cash information is available for Salado Corp.:
Net after-tax income .............. $ 336,000
Depreciation expense .............. 56,200
Accrued income tax expense ............ 82,000
Increase in Accounts Receivable for month .... 8,000
Decrease in Accounts Payable for month ..... 7,000
Estimated bad debts expense ........... 4,100
Dividends declared in May ........... 35,000
Dividends paid in May ............ 47,000
If Salado’s May 1, 2013, cash balance is $ 23,000, what is the company’s budgeted May 31, 2013, cash balance?



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  • CreatedJune 03, 2014
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