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5.1 Ene Entity has the following information in respect of its projected cash flows for the...
5.1 Ene Entity has the following information in respect of its projected cash flows for the...
5.1 Ene Entity has the following information in respect of its projected cash flows for the year ended 31 December its first year of operation: RM Opening cash balance 485,000 Credit sales (year-end receivable to be RM200,000) 720,000 Cash sales 300,000 Non-current assets purchased (RM300,000 paid in cash and balance on credit) 510,000 Credit purchases of goods for resale (RM120,000 unpaid at year-end) 610,000 Wages and salaries for the year (RM34,000 unpaid at year-end) 110,000 Other expenses 25,000 Loan interest...
ACC1511 MANAGEMENT ACCOUNTING FUNDAMENTALS CASH BUDGET EXERCISES Question 1 The accountant of DJ Herbs, a medium...
ACC1511 MANAGEMENT ACCOUNTING FUNDAMENTALS CASH BUDGET EXERCISES Question 1 The accountant of DJ Herbs, a medium size company, approached the company's bank late in the current year seeking short-lerm financing, and was told that money was very sght and that any borrowing over the next year would have to be supported by a detailed statement of cash colections and disbursements. The accountant also was tokld that it would be very helpful to the bank if borrowers would indicate the quarters...
Required information [The following information applies to the questions displayed below.) Built-Tight is preparing its master...
Required information [The following information applies to the questions displayed below.) Built-Tight is preparing its master budget for the quarter ended September 30, 2017. Budgeted sales and cash payments for product costs for the quarter follow: July August $56,000 $72,000 September $ 56,000 Budgeted sales Budgeted cash payments for Direct materials Direct labor Factory overhead 15,560 3,440 19,600 12,840 2,760 16,200 13,160 2,840 16,600 Sales are 20% cash and 80% on credit. All credit sales are collected in the month...
Required information Problem 22-2A Manufacturing: Cash budget LO P2 [The following information applies to the questions...
Required information Problem 22-2A Manufacturing: Cash budget LO P2 [The following information applies to the questions displayed below.] Built-Tight is preparing its master budget for the quarter ended September 30, 2017. Budgeted sales and cash payments for product costs for the quarter follow: July August $56,500 $ 72,500 September $ 55,500 Budgeted sales Budgeted cash payments for Direct materials Direct labor Factory overhead 15,660 3,540 19,700 12,940 2,860 16,300 13,260 2,940 16,700 Sales are 20% cash and 80% on credit....
You have the following information on your 2021 outdoor public swimming pool operation: Projected Cash Balance...
You have the following information on your 2021 outdoor public swimming pool operation: Projected Cash Balance on May 31: $ 10,000 Projected sales (all collected in cash): June July August $ 45,000 $ 50,000 $ 55,000 Projected operating expenses: all paid in month following the month indicated: May $ 42,000 June $ 30,000 July $ 35,000 August $ 10,000 Additional monthly operating expenses: Depreciation $ 6,000 Planned locker room reconstruction (will pay cash): July $ 55,000 You have a policy...
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments...
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. January February March Cash Receipts $518,000 404,000 464,000 Cash payments $465,900 351,900 531,000 According to a credit agreement with its bank, Kayak requires a minimum cash balance of $50,000 at each month-end. In return, the bank has agreed that the company can borrow up to $160,000 at...
Aztec Company sells its product for $160 per unit. Its actual and budgeted sales follow. Units...
Aztec Company sells its product for $160 per unit. Its actual and budgeted sales follow. Units Dollars April (actual) 5,000 $ 800,000 May (actual) 2,000 320,000 June (budgeted) 5,500 880,000 July (budgeted) 4,500 879,000 August (budgeted) 4,000 640,000 All sales are on credit. Recent experience shows that 26% of credit sales is collected in the month of the sale, 44% in the month after the sale, 26% in the second month after the sale, and 4% proves to be uncollectible....
Westmoreland Corporation prepared its statement of cash flows for the year. The following information is taken...
Westmoreland Corporation prepared its statement of cash flows for the year. The following information is taken from that statement Net cash provided by operating activities Net cash provided by investing activities Net cash flow used in financing activities Cash balance, end of year $ 17,900 5,900 (10,700) 17,600 What is the cash balance at the beginning of the year? Multiple Choice 0 $7,300 O $30,700 0 O $4,500 0 $13.100 0 Saved Net income Cash dividends paid to stockholders Cash...
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (e...
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. January February March Cash Receipts $519,000 411,000 479,000 Cash payments $ 462,500 354,500 522,000 According to a credit agreement with the company's bank, Kayak promises to have a minimum cash balance of $50,000 at each month-end. In return, the bank has agreed that the company can borrow...
Exercise 20-32A Merchandising: Cash budget LO P4 Kelsey is preparing its master budget for the quarter...
Exercise 20-32A Merchandising: Cash budget LO P4 Kelsey is preparing its master budget for the quarter ended September 30. Budgeted sales and cash payments for merchandise for the next three months follow: Budgeted Sales Cash payments for merchandise July $62,100 44,200 August $81,900 31,700 September $49,900 32,500 Sales are 15% cash and 85% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $14,200 in cash; $52,500 in accounts...
5.1 Ene Entity has the following information in respect of its projected cash flows for the year ended 31 December its first year of operation: RM Opening cash balance 485,000 Credit sales (year-end receivable to be RM200,000) 720,000 Cash sales 300,000 Non-current assets purchased (RM300,000 paid in cash and balance on credit) 510,000 Credit purchases of goods for resale (RM120,000 unpaid at year-end) 610,000 Wages and salaries for the year (RM34,000 unpaid at year-end) 110,000 Other expenses 25,000 Loan interest...
ACC1511 MANAGEMENT ACCOUNTING FUNDAMENTALS CASH BUDGET EXERCISES Question 1 The accountant of DJ Herbs, a medium size company, approached the company's bank late in the current year seeking short-lerm financing, and was told that money was very sght and that any borrowing over the next year would have to be supported by a detailed statement of cash colections and disbursements. The accountant also was tokld that it would be very helpful to the bank if borrowers would indicate the quarters...
Required information [The following information applies to the questions displayed below.) Built-Tight is preparing its master budget for the quarter ended September 30, 2017. Budgeted sales and cash payments for product costs for the quarter follow: July August $56,000 $72,000 September $ 56,000 Budgeted sales Budgeted cash payments for Direct materials Direct labor Factory overhead 15,560 3,440 19,600 12,840 2,760 16,200 13,160 2,840 16,600 Sales are 20% cash and 80% on credit. All credit sales are collected in the month...
Required information Problem 22-2A Manufacturing: Cash budget LO P2 [The following information applies to the questions displayed below.] Built-Tight is preparing its master budget for the quarter ended September 30, 2017. Budgeted sales and cash payments for product costs for the quarter follow: July August $56,500 $ 72,500 September $ 55,500 Budgeted sales Budgeted cash payments for Direct materials Direct labor Factory overhead 15,660 3,540 19,700 12,940 2,860 16,300 13,260 2,940 16,700 Sales are 20% cash and 80% on credit....
You have the following information on your 2021 outdoor public swimming pool operation: Projected Cash Balance on May 31: $ 10,000 Projected sales (all collected in cash): June July August $ 45,000 $ 50,000 $ 55,000 Projected operating expenses: all paid in month following the month indicated: May $ 42,000 June $ 30,000 July $ 35,000 August $ 10,000 Additional monthly operating expenses: Depreciation $ 6,000 Planned locker room reconstruction (will pay cash): July $ 55,000 You have a policy...
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. January February March Cash Receipts $518,000 404,000 464,000 Cash payments $465,900 351,900 531,000 According to a credit agreement with its bank, Kayak requires a minimum cash balance of $50,000 at each month-end. In return, the bank has agreed that the company can borrow up to $160,000 at...
Westmoreland Corporation prepared its statement of cash flows for the year. The following information is taken from that statement Net cash provided by operating activities Net cash provided by investing activities Net cash flow used in financing activities Cash balance, end of year $ 17,900 5,900 (10,700) 17,600 What is the cash balance at the beginning of the year? Multiple Choice 0 $7,300 O $30,700 0 O $4,500 0 $13.100 0 Saved Net income Cash dividends paid to stockholders Cash...
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. January February March Cash Receipts $519,000 411,000 479,000 Cash payments $ 462,500 354,500 522,000 According to a credit agreement with the company's bank, Kayak promises to have a minimum cash balance of $50,000 at each month-end. In return, the bank has agreed that the company can borrow...
Exercise 20-32A Merchandising: Cash budget LO P4 Kelsey is preparing its master budget for the quarter ended September 30. Budgeted sales and cash payments for merchandise for the next three months follow: Budgeted Sales Cash payments for merchandise July $62,100 44,200 August $81,900 31,700 September $49,900 32,500 Sales are 15% cash and 85% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $14,200 in cash; $52,500 in accounts...
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