The financial statements that are prepared for the business are separate and distinct from the owners according to the

Tokyo Corp has prepared a preliminary cash budget for the third quarter as shown below

Cash Budget Jul Aug Sep Beginning cash balance $34,000 $13,000 $18,500 Plus: Cash collections $54,000 $52,000 45,000 Cash available 88,000 $65,000 $63,500 Less: Cash payments: Purchases of direct materials 34,000 8,000 11,000 Operating expenses 40,000 30,500 30,700 Capital expenditures 1,000 8,000 7,000 Ending cash balance $13,000 $18,500 $14,800 Subsequently, the marketing department revised its figures for cash collections. New data are as follows: $53,000 in July, $55,000 in August, and $46,000 in September. Based on the new data, calculate the new projected cash balance at the end of August. A) $20,500 B) $18,500 C) $12,000 D) $17,800

The insured carries a personal auto policy providing a bodily injury limit of $50,000 each person with a per accident injury limit of $100,000. He injures two occupants in another vehicle. Their injuries total $60,000 for Mr. Jones and $50,000 for Mrs. Jones. The insurance company spent $40,000 in defense and investigation costs. How much will the insured's policy pay?

a. $50,000 b. $100,000 c. $140,000 d. $110,000