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What is the estimated cash balance at June

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Question - Arnold Company Pty Ltd made these estimates for the three months ending 30 June 2010, its first period of operation. The beginning cash balance is $1,000.

Cash receipts from sales $300 000

Cash payments for expenses 130 000

Payment for the purchase of new motor vehicle 15 000

Depreciation of motor vehicle 15 000

Repayment of a loan 100 000

Required - What is the estimated cash balance at 30 June 2010?

a. $55000 deficit

b. $56000 surplus

c. $50000 surplus

d. $40000 surplus

e. $155000 surplus

Reference no: EM132571792

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