Mosbey Inc. is working on its cash budget for June. The budgeted beginning cash balance is $29,000. Budgeted cash receipts total $187,000 and budgeted cash disbursements total $186,000. The desired ending cash balance is $51,000. The excess (deficiency) of cash available over disbursements for June will be:

The excess cash available will be $30,000  

Explanation:

The following information were given:

beginning cash balance = $29,000

budgeted cash receipt = $187,000

budgeted cash disbursement = $186,000

desired ending cash balance = $51,000

required = excess (deficiency) of cash available over disbursement.

To calculate the excess (deficiency) of cash available over disbursement, disbursements will be deducted from all the cash received and available, if the difference is positive, then the cash available is excess, if negative, then the cash available is deficiency. This is calculated as follows

Total cash available = beginning cash balance + budgeted cash receipt

= 29,000 + 187,000 = $216,000

Total disbursements = $186,000

∴Excess (deficiency) of cash available = 216,000 - 186,000 =$30,000 (excess)

explanation: doctrine of respondeat superior is a legal doctrine that is commonly used in tort. this principle makes an employer or principal legally responsible for the wrongful acts done by an employee or agent, if such acts occur within the scope of the employment or agency.