4. Compute the June 30, 2017 ending cash balance for Bengal Equipment Company, based on...
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4. Compute the June 30, 2017 ending cash balance for Bengal Equipment Company, based on the following information. Show all computations in an Excel spreadsheet and submit this spreadsheet on Moodle along with this document. Beginning cash balance, January 1, 2017 = $20,000 Sales January February March April May June $6,000 $3,500 $4,000 $2,000 $1,500 $2,000 60 percent of the sales are in cash. The other 40 percent are accounts receivable collected in the next month Rent Utilities- Wages = $1,200 per month S 500 per month $2,000 per month A tax prepayment of $3,000 will be paid in March A capital addition of $7,000 will be paid in April Interest income of S5,500 will be received in May. The owner plans to invest another $10,000 in cash in June
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