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Fortner Manufacturing has a cash balance of $11,000 on August 1 of the current year. The...
Fortner Manufacturing has a cash balance of $8,000 on August 1 of the current year. The company's controller forecast t...
Fortner Manufacturing has a cash balance of $8,000 on August 1 of the current year. The company's controller forecast the following cash receipts and cash disbursements for the upcoming two months of activity: Cash Receipts $52,000 71,000 Cash Payments $62,000 63,000 August September Management desires to maintain a minimum cash balance of $8,000 at all times. If necessary, additional financing can be obtained in $1,000 multiples at a 12% interest rate. All borrowings are made at the beginning of the...
Please help. All one question. Thanks. Fortner Manufacturing has a cash balance of $8,000 on August...
Please help. All one question. Thanks.
Fortner Manufacturing has a cash balance of $8,000 on August 1 of the current year. The company's controller forecast the following cash receipts and cash disbursements for the upcoming two months of activity: Cash Receipts $47,000 70,000 Cash Payments $60,000 58,000 August September Management desires to maintain a minimum cash balance of $8,000 at all times. If necessary, additional financing can be obtained in $1,000 multiples at a 12% interest rate. All borrowings are...
Please help with part A and B. Please explain, I do not understand. Thank you! Fortner...
Please help with part A and B. Please explain, I do not
understand. Thank you!
Fortner Manufacturing has a cash balance of $10,000 on August 1 of the current year. The company's controller forecast the following cash receipts and cash disbursements for the upcoming two months of activity: Cash Cash Receipts $49,000 74,000 Payments $62,000 60,000 August September Management desires to maintain a minimum cash balance of $10,000 at all times. If necessary, additional financing can be obtained in $1,000...
Hex Company requires a minimum cash balance of $3,500. When the company expects a cash deficiency,...
Hex Company requires a minimum cash balance of $3,500. When the company expects a cash deficiency, it borrows the exact amount required on the first of the month. Expected excess cash is used to repay any amounts owed. Interest owed from the previous month's principal balance is paid on the first of the month at 14% per year. The company has already completed the budgeting process for the first quarter for cash receipts and cash payments for all expenses except...
Southland Company is preparing a cash budget for August. The company has $16,000 cash at the begi...
Southland Company is preparing a cash budget for August. The company has $16,000 cash at the beginning of August and anticipates $124,800 in cash receipts and $133,500 in cash disbursements during August. Southland Company wants to maintain a minimum cash balance of $10,000. The preliminary cash balance at the end of August before any loan activity is: Multiple Choice 1:05 $17,300. $140,800 ($8.700). $7,300
Harley Company requires a minimum cash balance of $5,000. When the company expects a cash deficiency,...
Harley Company requires a minimum cash balance of $5,000. When the company expects a cash deficiency, it borrows the exact amount required on the first of the month. Expected excess cash is used to repay any amounts owed. Interest owed from the previous month's principal balance is paid on the first of the month at 12% per year. The company has already completed the budgeting process for the first quarter for cash receipts and cash payments for all expenses except...
ABC Company has a cash balance of $37,000 on August 1 and requires a minimum ending cash balance of $24,160. Cash receip...
ABC Company has a cash balance of $37,000 on August 1 and
requires a minimum ending cash balance of $24,160. Cash receipts
from sales budgeted for August are $200,160. Cash disbursements
budgeted for August include inventory purchases, $29,000; other
manufacturing expenses, $55,000; operating expenses, $40,000; bond
retirements, $62,000; and dividend payments, $27,000.
Required:
Prepare a cash budget for ABC Company for August.
August Beginning cash balance Cash Receipts: Total cash available Cash Disbursements: Total cash disbursements Ending cash balance
Hopp Company requires a minimum cash balance of $3,100. When the company expects a cash deficiency,...
Hopp Company requires a minimum cash balance of $3,100. When the company expects a cash deficiency, it borrows the exact amount required on the first of the month. Expected excess cash is used to repay any amounts owed. Interest owed from the previous month's principal balance is paid on the first of the month at 17% per year. The company has already completed the budgeting process for the first quarter for cash receipts and cash payments for all expenses except...
Karim Corp. requires a minimum $8,300 cash balance. If necessary, loans are taken to meet this...
Karim Corp. requires a minimum $8,300 cash balance. If necessary, loans are taken to meet this requirement at a cost of 2% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,700 and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow July Cash receipts Cash payments August September $40,300...
a. Cash collections from services in July, August, and September, are projected to be $96,000, $156,000,...
a. Cash collections from services in July, August, and September, are projected to be $96,000, $156,000, and $120,000 respectively. b. Cash payments for the upcoming third quarter are projected to be $140,000 in July, $104,000 in August, and $137,000 in September. c. The cash balance as of the first day of the third quarter is projected to be $31,000. d. The health center has a policy that it must maintain a minimum cash balance of $24,000. The health center has...
Fortner Manufacturing has a cash balance of $8,000 on August 1 of the current year. The company's controller forecast the following cash receipts and cash disbursements for the upcoming two months of activity: Cash Receipts $52,000 71,000 Cash Payments $62,000 63,000 August September Management desires to maintain a minimum cash balance of $8,000 at all times. If necessary, additional financing can be obtained in $1,000 multiples at a 12% interest rate. All borrowings are made at the beginning of the...
Please help. All one question. Thanks.
Fortner Manufacturing has a cash balance of $8,000 on August 1 of the current year. The company's controller forecast the following cash receipts and cash disbursements for the upcoming two months of activity: Cash Receipts $47,000 70,000 Cash Payments $60,000 58,000 August September Management desires to maintain a minimum cash balance of $8,000 at all times. If necessary, additional financing can be obtained in $1,000 multiples at a 12% interest rate. All borrowings are...
Please help with part A and B. Please explain, I do not
understand. Thank you!
Fortner Manufacturing has a cash balance of $10,000 on August 1 of the current year. The company's controller forecast the following cash receipts and cash disbursements for the upcoming two months of activity: Cash Cash Receipts $49,000 74,000 Payments $62,000 60,000 August September Management desires to maintain a minimum cash balance of $10,000 at all times. If necessary, additional financing can be obtained in $1,000...
Hex Company requires a minimum cash balance of $3,500. When the company expects a cash deficiency, it borrows the exact amount required on the first of the month. Expected excess cash is used to repay any amounts owed. Interest owed from the previous month's principal balance is paid on the first of the month at 14% per year. The company has already completed the budgeting process for the first quarter for cash receipts and cash payments for all expenses except...
Southland Company is preparing a cash budget for August. The company has $16,000 cash at the beginning of August and anticipates $124,800 in cash receipts and $133,500 in cash disbursements during August. Southland Company wants to maintain a minimum cash balance of $10,000. The preliminary cash balance at the end of August before any loan activity is: Multiple Choice 1:05 $17,300. $140,800 ($8.700). $7,300
Harley Company requires a minimum cash balance of $5,000. When the company expects a cash deficiency, it borrows the exact amount required on the first of the month. Expected excess cash is used to repay any amounts owed. Interest owed from the previous month's principal balance is paid on the first of the month at 12% per year. The company has already completed the budgeting process for the first quarter for cash receipts and cash payments for all expenses except...
ABC Company has a cash balance of $37,000 on August 1 and
requires a minimum ending cash balance of $24,160. Cash receipts
from sales budgeted for August are $200,160. Cash disbursements
budgeted for August include inventory purchases, $29,000; other
manufacturing expenses, $55,000; operating expenses, $40,000; bond
retirements, $62,000; and dividend payments, $27,000.
Required:
Prepare a cash budget for ABC Company for August.
August Beginning cash balance Cash Receipts: Total cash available Cash Disbursements: Total cash disbursements Ending cash balance
Karim Corp. requires a minimum $8,300 cash balance. If necessary, loans are taken to meet this requirement at a cost of 2% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,700 and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow July Cash receipts Cash payments August September $40,300...
a. Cash collections from services in July, August, and September, are projected to be $96,000, $156,000, and $120,000 respectively. b. Cash payments for the upcoming third quarter are projected to be $140,000 in July, $104,000 in August, and $137,000 in September. c. The cash balance as of the first day of the third quarter is projected to be $31,000. d. The health center has a policy that it must maintain a minimum cash balance of $24,000. The health center has...
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