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Category > Management Posted 24 Apr 2018 My Price 9.00

Bastille Corporation

Bastille Corporation prepares monthly cash budgets. Here are relevant data from operating budgets for 2017.

All sales and purchases are on account. Budgeted collections and disbursement data are given below. All other expenses are paid in the month incurred. Administrative expenses include $1,000 of depreciation per month.

Other data.

1. Collections from customers: January $326,000; February $378,000.

2. Payments for purchases: January $110,000; February $135,000.

3. Other receipts: January: collection of December 31, 2016, notes receivable $15,000; February: proceeds from sale of securities $4,000.

4. Other disbursements: February $10,000 cash dividend. The company’s cash balance on January 1, 2017, is expected to be $46,000. The company wants to maintain a minimum cash balance of $40,000.

 

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Maurice Tutor
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Status NEW Posted 24 Apr 2018 06:04 PM My Price 9.00

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