Your company collected $340.00 million and spent $381.00 million this month. If previous month's cash position (cumulative cash) is $14.31 million and your company target cash position is $20.00 million. What's your company's cash surplus/shortage at the end of this month, with positive number indicates a surplus and negative number indicates a shortage? Note: your answer should be in millions of dollars
Your company collected $340.00 million and spent $381.00 million this month. If previous month's cash position (cumulative cash) is $14.31 million and your company target cash position is $20.00 million. What's your company's cash surplus/shortage at the end of this month, with positive number indicates a surplus and negative number indicates a shortage? Note: your answer should be in millions of dollars
Chapter17: The Management Of Cash And Marketable Securities
Section: Chapter Questions
Problem 2P
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Question
Your company collected $340.00 million and spent $381.00 million this month. If previous month's cash position (cumulative cash) is $14.31 million and your company target cash position is $20.00 million. What's your company's cash surplus/shortage at the end of this month, with positive number indicates a surplus and negative number indicates a shortage?
Note: your answer should be in millions of dollars
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