What amount of short-term cash reserves should be targeted?Explain your answer.
You are reviewing your targets for short-term cash reserves next year. You wish to carry at least twenty days cash on hand. If annual budgeted cash expenses are $48,000,000, what amount of short-term cash reserves should be targeted? You have projected depreciation expense to be $1,000,000 in the next fiscal year 3 with year-end accumulated […]