Business – 5.3 Forecasting and managing cash flows – Cash flow forecasts | e-Consult
5.3 Forecasting and managing cash flows – Cash flow forecasts (1 questions)
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Answer 1
Closing balance = Opening balance + Total receipts – Total payments
- Total receipts = £8,200 + £5,000 = £13,200
- Total payments = £6,400 + £3,300 + £1,200 = £10,900
- Closing balance = £12,500 + £13,200 – £10,900 = £14,800
Therefore, the closing cash balance for June is £14,800.