Please help. All one question. Thanks.
Homework Answers
| Fortner Manufacturing | |||
| Cash Budget | August | Calculation | |
| Beginning Cash balance | 8,000 | ||
| Add: Cash Receipts | 47,000 | ||
| Subtotal | 55,000 | ||
| Less: Cash Payments | 60,000 | ||
| Cash balance before financing/retirement | (5,000) | ||
| Financing | |||
| Borrowings to maintain minimum | 13,000 | =5,000+8,000 | |
| Ending Cash balance | 8,000 | ||
| Cash Budget | September | Calculation | |
| Beginning Cash balance | 8,000 | ||
| Add: Cash Receipts | 70,000 | ||
| Subtotal | 78,000 | ||
| Less: Cash Payments | 58,000 | ||
| Cash balance before financing/retirement | 20,000 | ||
| Financing | |||
| Principal Repayment | (11,000) | ||
| Interest payment | (110) | =11,000*12%*1/12 | |
| Ending Cash balance | 8,890 |
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Please help. All one question. Thanks.
Fortner Manufacturing has a cash balance of $8,000 on August...
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...
Fortner Manufacturing has a cash balance of $11,000 on August 1 of the current year. The...
Fortner Manufacturing has a cash balance of $11,000 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 $55,000 77,000 Cash Payments $71,000 66,000 August September Management desires to maintain a minimum cash balance of $11,000 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 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...
please do all of them Check my work Karim Corp. requires a minimum $8,000 cash balance....
please do all of them
Check my work Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,400, 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. 0.66 points Cash receipts Cash payments...
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
Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1%...
Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,400, 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. Cash receipts Cash payments July $20,000 28,000 August $26,000 30,000 September $40,000 22,000 Prepare...
Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1%...
Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,400, 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 August $26,000 30,000 September $40,000 22,000 July $20,000 28,000 Cash receipts Cash payments s0...
ABC Company has a cash balance of $34,000 on August 1 and requires a minimum ending...
ABC Company has a cash balance of $34,000 on August 1 and requires a minimum ending cash balance of $23,032. Cash receipts from sales budgeted for August are $199,032. Cash disbursements budgeted for August include inventory purchases, $26,000; other manufacturing expenses, $61,000; operating expenses, $40,000; bond retirements, $59,000; and dividend payments, $24,000. Required: Prepare a cash budget for ABC Company for August. August Beginning cash balance Cash Receipts: Cash collections from sales Total cash available $ 0 Cash Disbursements: For...
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
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...
Fortner Manufacturing has a cash balance of $11,000 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 $55,000 77,000 Cash Payments $71,000 66,000 August September Management desires to maintain a minimum cash balance of $11,000 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 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...
please do all of them
Check my work Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,400, 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. 0.66 points Cash receipts Cash payments...
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 $8,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,400, 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. Cash receipts Cash payments July $20,000 28,000 August $26,000 30,000 September $40,000 22,000 Prepare...
Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,400, 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 August $26,000 30,000 September $40,000 22,000 July $20,000 28,000 Cash receipts Cash payments s0...
ABC Company has a cash balance of $34,000 on August 1 and requires a minimum ending cash balance of $23,032. Cash receipts from sales budgeted for August are $199,032. Cash disbursements budgeted for August include inventory purchases, $26,000; other manufacturing expenses, $61,000; operating expenses, $40,000; bond retirements, $59,000; and dividend payments, $24,000. Required: Prepare a cash budget for ABC Company for August. August Beginning cash balance Cash Receipts: Cash collections from sales Total cash available $ 0 Cash Disbursements: For...
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
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