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?