Snow Mountain Resort had a beginning cash balance of $9,720 for the quarter. During the quarter, the firm had cash collections of $157,311, wages and other cash expenses of $67,900, payments on account of $57,412, and dividends paid of $2,500. The minimum cash balance was just set at $1,200. The beginning short-term debt is $28,000 with a quarterly interest rate of 1.4 percent. At quarter end, the cumulative surplus (deficit) is __________ and the ending short-term debt is __________.

Snow Mountain Resort had a beginning cash balance of $9,720 for the quarter. During the quarter, the firm had cash collections of $157,311, wages and other cash expenses of $67,900, payments on account of $57,412, and dividends paid of $2,500. The minimum cash balance was just set at $1,200. The beginning short-term debt is $28,000 with a quarterly interest rate of 1.4 percent. At quarter end, the cumulative surplus (deficit) is and the ending short-term debt is .

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 3P

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