The difference between cash receipts and cash disbursements in December would be

Question

The difference between cash receipts and cash disbursements in December would be:
A. $61,500
B. $62,050
C. $60,300
D. $65,400

Statement of Financial Position October 31 Assets Cash … Accounts receivable (net of allowance for uncollectible accounts)............... Inventory. Property, plant and equipment (net of $598,000 accumulated depreciation..1138,000 Total assets $13,000 82,000 153,000 386,000 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity 257,000 600,000 529.000 S1,386,000 $ 257,000

Explanation / Answer

My answer is $ 61,390. So it may be Approximate to

A.$ 61,500

Schedule of Cash Budget

My answer is $ 61,390. So it may be Approximate to

A.$ 61,500

Schedule of Cash Budget

November December January Production 341000 352000 371000 Sales Receipt In the Month of Sale-55% 187550 193600 204050 In the Month Following the Sale-44% 150040 154880 Uncollectible-1% 3410 3520 3710 Total Cash Receipt A 187550 343640 358930 Cost of Goods Sold 255750 264000 278250 Closing Inventory 158400 166950 0 Opening Inventory 153000 158400 166950 Purchase 261150 272550 111300 Cash Paid for Purchase- In The Month Following the Purchase 0 261150 272550 Other Monthly Expense Paid In Cash 21100 21100 21100 Total Cash Disbursement B 21100 282250 293650 Difference in Cash Receipt and Disbursement-(A-B) 166450 61390 65280 Question is asked to get the difference for the month of December, so some data of other month ignored.

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