Varughese Inc. is working on its cash budget for March. The budgeted beginning cash balance is $33,000. Budgeted cash receipts total $182,000 and budgeted cash disbursements total $191,000. The desired ending cash balance is $40,000. The excess (deficiency) of cash available over disbursements for March will be: Multiple Choice $215,000 $42,000 $24,000 ($9,000)

The correct statement regarding the cash budget of Varughese Inc. will be that there will be a cash surplus of $24,000 available in the budgeted statements. So, the correct option is C.

The calculation of cash budgets is done by using a simple format, involving the additions of the incoming cash balances and subtracting the payments made towards thereto.

Cash Budgeted Statements.

It is given that the opening balances of the company is $33,000; cash inflow is $182,000 and the cash outflow is $191,000 whereas the closing balance is desired to be $40000.

Putting the given values in the format of calculating cash surplus, the final obtained value will be a surplus of $24,000.

The surplus is obtained after the addition of opening balance and cash inflow which is obtained as $215,000 and subtracting the amount of $191,000(cash outflows).

Hence, the correct option is C that there will be a cash surplus in the hands of Varughese Inc. at the end of calculation and estimating the cash budget.

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