The company has made the following budget forecasts for the year 2021: ￡ Opening cash balance on 1 January 2021 24,000 Net profit for the year 100,000 Payment of tax 25,000 Payment of dividends 20,000 Payment of new vehicles 70,000 Annual depreciation charge 22,000 1 January 2021 31 December 2021 ￡ ￡ Inventory 32,000 35,000 Trade receivables 41,000 28,000 Trade payables 16,000 31,000 No other relevant information is available. What is the company's closing bank balance on 31 December 2021?

 A. ￡6,000 

B. ￡34,000 

C. ￡26,000 

D. ￡56,000

Answer rating: 100% (QA)

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