Answer is
My question is why opening balance of cash of quarter is 74000? And the interest is times 3 month, or times 2 month?
If you see the balance sheet given in your question on March 31 , you will see that the ending cash balance is 74,000 .thus this cash balance will be beginning balance in quarter 2 that is on April 1 Interest 170,000 borrowing was paid in third month after borrowing , we assume borrowing was done at the beginning of month april since it was outstanding for April ,may and june (paid at the end of month) it needs to be multiplied with 3 for 3 months as interest given 1.5% is for a month similarly $10000 remained outstanding for two months hence need to be multiplied by 2 |
Answer is My question is why opening balance of cash of quarter is 74000? And the...
Williams Company sells women’s hats for $12 each. Actual and budgeted sales in units for nine months are as follows: January (actual) ……….. 25,000 June (budget) …………. 50,000 February (actual) ……… 26,000 July (budget) ………….. 30,000 March (actual) ………… 40,000 August (budget) ………. 28,000 April (budget) ………… 65,000 September (budget) …… 25,000 May (budget) …………. 100,000 The company should have sufficient inventory on hand at the end of each month to supply 40% of the hats sold in the following...
Williams Company sells women’s hats for $12 each. Actual and budgeted sales in units for nine months are as follows: January (actual) ……….. 25,000 June (budget) …………. 50,000February (actual) ……… 26,000 July (budget) ………….. 30,000March (actual) ………… 40,000 August (budget) ………. 28,000April (budget) ………… 65,000 September (budget) …… 25,000May (budget) …………. 100,000 The company should have sufficient inventory on hand at the end of each month to supply 40% of the hats sold in the following month. Suppliers are paid $4.50 each...
The company sells many styles of earrings, but all are sold for the asame price-$10 per pair. Actual sales of earrings for the last 3 months and budgeted sales for the next 6 months follow. (in pairs of earings) January (actual) 20,000 June (budget) 50,000 Febuary (actual) 26,000 July (budget) 30,000 March (actual) 40,000 August (budget) 28,000 April (budget) 65,000 September (budget) 25,000 May (budget) 100,000 Sufficient inventory should be on hand at the end of each month to supply...
You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained in budgeting, you have decided to prepare a master budget for the upcoming second quarter. To this end, you have...
You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained in budgeting, you have decided to prepare a master budget for the upcoming second quarter. To this end, you have...
You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained in budgeting, you have decided to prepare a master budget for the upcoming second quarter. To this end, you have...
1. You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained in budgeting, you have decided to prepare a master budget for the upcoming second quarter. To this end, you...
Hi I am struggling with answering this question. You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained in budgeting, you have decided to prepare a master budget for the...
You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained in budgeting, you have decided to prepare a master budget for the upcoming second quarter. To this end, you have...
Skip to main content CASE #1 AnswerSaved Help opens in a new windowSave & ExitSubmit Item1 100points ItemSkipped eBook Print References Item 1 Item 1 100 points Item Skipped You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced...