ACC 400 Course Great Wisdom / tutorialrank.com ACC 400 Course Great Wisdom / tutorialrank.com | Page 4

F. Cash dividends of $20,000

The beginning balance of cash is $45,000. What is the budgeted
ending balance of cash?

a.

$325,000

b.

$370,000

c.

$275,000

d.

$245,000

3. On January 1, a business exchanged a plant asset with a cost
of $18,000 and accumulated depreciation of $16,500 for a similar
asset that had a list price of $23,000. The business received a trade-in
allowance of $2,100 on the old plant asset. What was the result of the
exchange?