IP company has a beginning IP Company has a beginning cash balance of $5,000; cash receipts...
IP Company has a beginning cash balance of $5,000; cash receipts of $20,000; cash disbursements of $15,000. What is the preliminary cash balance?
IP Company has a preliminary cash balance of $25,000 and an agreement with the bank that it will keep a minimum balance of $20,000. IP Company has a beginning loan balance of $12,000. The ending loan balance is?
Kaiser, Inc. has the following budgeted cash collections from the cash receipts budget and cash payments (excluding loan principal repayments and interest payments) from the cash disbursements budget for the next quarter (April, May, & June). Cash Receipts Cash Payments April $30,024 $27,064 May $32,398 $39,383 June $36,064 $32,772 In addition, Kaiser's beginning cash balance as of April 1 is $15,290. Kaiser, Inc. would like to maintain a minimum $15,000 cash balance at all times. In order to achieve this...
Smith Company has a budgeted beginning cash balance of $11,000 and required minimum cash of $5,000. Their budgeted cash flows are below. How much do they need to borrow to maintain their minimum cash balance? A. $4,000 B. $9,000 C. $14,000 D. $20,000 Payments to suppliers $25,000 Cash dividends paid 5,000 Collections from customers 45,000 Lease payments 10,000 Depreciation expense 5,000 Other cash expenses 20,000
Cheyenne Company has budgeted the following information for June: Cash receipts $ 271,000 Beginning cash balance 5,000 Cash payments 280,000 Desired ending cash balance 25,000 If there is a cash shortage, the company borrows money from the bank. All cash is borrowed at the beginning of the month in $1,000 increments and interest is paid monthly at 1% on the first day of the following month. The company had no debt before June 1st. The amount of interest paid on...
Zolezzi Inc. is preparing its cash budget for March. The budgeted beginning cash balance is $15,000. Budgeted cash receipts total $106,000 and budgeted cash disbursements total $97,000. The desired ending cash balance is $40,000. The company can borrow up to $80,000 at any time from a local bank, with interest not due until the following month. Required: Prepare the company's cash budget for March in good form. Make sure to indicate what borrowing, if any, would be needed to attain...
Zolezzi Inc. is preparing its cash budget for March. The budgeted beginning cash balance is $20,000. Budgeted cash receipts total $111,000 and budgeted cash disbursements total $92,000. The desired ending cash balance is $50,000. The company can borrow up to $80,000 at any time from a local bank, with interest not due until the following month. Required: Prepare the company's cash budget for March in good form. Make sure to indicate what borrowing, if any, would be needed to attain...
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
Wriston Company is preparing its cash budget for the upcoming month. The beginning cash balance for the month is expected to be $17,000. Budgeted cash disbursements are $75,500, while budgeted cash receipts are $85,700. Wriston Company wants to have an ending cash balance of $20,000. The excess (deficiency) of cash available over disbursements for the month would be A. $178,200 B. $27,200 C. $95,500 D. $(27,200)
The company’s beginning cash balance for the upcoming fiscal year will be $20,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is...