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Category: Finance
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Experience:  Bachelors degree and CPA with Accounting experience.
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In the month of August, a firm had total cash receipts of $10,000,

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In the month of August, a firm had total cash receipts of $10,000, total cash disbursements of $8,000, depreciation expense of $1,000, a minimum cash balance of $3,000, and a beginning cash balance of $500. The excess cash balance (required financing) for August is?
Submitted: 6 years ago.
Category: Finance
Expert:  JKCPA replied 6 years ago.
Hello Customer,

Thanks for your question.

Beg. Cash balance $500
+cash receipts $10,000
=total cash available $10,500
-cash disbursements $8,000
=Ending Cash balance $2500
- minimum balance $3000
=Required financing needed of $500 for the month of August.

Hope this helps!
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