Question: Given the solution and accounting question On August 1, your business had a beginning cash balance of $250. Your sales for July were $420 and

Given the solution and accounting question

On August 1, your business had a beginning cash balance of $250. Your sales for July were $420 and your August sales were $5380. During August you had cash expenses of $130 and payments on your accounts payable of $340. Your accounts receivable period is 45 days. What is your business's beginning cash balance on September 1

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Williams Company Budgeted Balance Sheets For Each Month This Year January February March April May June July August September October November December Assets Current assets: Cash $64,998 $51,033...

i am very confused on how to complete this workshet. i am in need of some help on getinng the ball rolling. some answers would be useful to get that going Determine the standard direct material cost...

Required information (The following information applies to the questions displayed below.] 2. Prepare a cash budget for the months of July, August, and September. (Negative balances an Loan repayment...

Following figures (table shown below) are available from XYZ campany: Selling Price S per unit Varnable cost, S per unit 80 30 Match the following questions with the closest correct answers from the...

Established in 2022, Lady N is considered as one of the finest patisseries in Hong Kong. Lady N prides itself in creating the freshest and finest cakes that are handmade by its dedicated pastry chefs...

Herbal which peak sales occur. 1. On August 1 the company will have a cash balance of $44,50o. Care Corp., a distributor of herb-based sun screens is ready to begin its third quarter, in 2. Sales are...

(a) Make a cash budget by month for July, August, and September Established in 2022, Lady N is considered as one of the finest patisseries in Hong Kong. Lady N prides itself in creating the freshest...

QUESTION 5 GambirBerhad has budgeted sales revenue as follows: June July August RM RM RM Credit sales 27,000 29,000 18,000 Cash sales 18,000 51,000 39,000 Total sales 45,000 80,000 57.000 Past...

a. Let f(x) = cos(0.65x). i. By how much does x have to vary for f's argument (the value of 0.65x) to vary by 2? Preview ii. What is the period of ? Preview b. Let g(x) = sin(3x). i. By how much does...

Let's say you have a 3 year floating rate bond that distributes annual coupon and a capped security at 6.78%. The following three year par values are as follows: 3%, 4%, and 5.5% respectively. The...

he best investment strategy is to hold only bond mutual funds with bonds from U . S . corporations. buy only one or two stock mutual funds. buy individual stocks in one sector and bonds companies in...

Within the theoretical facets of affect climate, what is affect utilization? How is this linked to employee monitoring and reprimands?