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Bookworm Publishers publishes books and they have gathered the following data for the month of​ October: DataCash on​ 8/1​$7,000Expected Cash Collections​$350,000Direct Materials Cash Disbursements​$62,000Direct Labor Cash Disbursements​$45,000MOH Cash Disbursements​$43,000Operating Expenses Cash Disbursements​$85,000Capital Expenditures Cash Disbursements​$125,000Bookworm Publishers requires an ending cash balance of at least​ $5,000 and can borrow from a line of credit in​ $1,000 increments. What is the excess or deficiency of cash for​ October?

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Answer:

Explanation:

Bookworm

Inflow of cash

Opening cash balance = $7,000

Expected collections =>$350,000

Total inflow = $357,000

Outflow of cash

Direct Materials Cash Disbursements = ​$62,000

Direct Labor Cash Disbursements ​= $45,000

MOH Cash Disbursements​= $43,000

Operating Expenses Cash Disbursements​ = $85,000

Capital Expenditures Cash Disbursements​= $125,000

Total outflow = $360,000

Net cash deficit = -$3,000

Available credit line = $1,000

Cash deficit = $2,000

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