The following information pertains to Hepburn Company: Month Sales Purchases January $63,000 $39,000 February $82,000 $44,000...
The following information pertains to Hepburn Company:
|
Month |
Sales |
Purchases |
|
January |
$63,000 |
$39,000 |
|
February |
$82,000 |
$44,000 |
|
March |
$102,000 |
$57,000 |
Cash is collected from customers in the following manner:
Month of sale 35%
Month following the sale 65%
40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month.
Labor costs are 30% of sales. Other operating costs are $32,000 per month (including $9,000 of depreciation). Both of these are paid in the month incurred,
The cash balance on March 1 is $15,800. A minimum cash balance of $3,000 is required at the end of the month. Money can be borrowed in multiples of $1,000.
What is the ending cash balance for March?
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The following information pertains to Hepburn Company:
Month
Sales
Purchases
January
$63,000
$39,000
February
$82,000
$44,000...
The following information pertains to Hepburn Company: Month Sales Purchases January $66,000 $40,000 February $84,000 $49,000...
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The following information pertains to Hepburn Company: Month Sales Purchases January $60,000 $35,000 February $84,000 $42,000...
The following information pertains to Hepburn Company: Month Sales Purchases January $60,000 $35,000 February $84,000 $42,000 March $107,000 $66,000 Cash is collected from customers in the following manner: Month of sale 35% Month following the sale 65% 50% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labor costs are 25% of sales. Other operating costs are $32,000 per month (including $10,000 of depreciation). Both of these are paid...
the following information pertains to Hepburn Company: Month Sales Purchases January $70,000 $38,000 February $85,000 $41,000...
the following information pertains to Hepburn Company: Month Sales Purchases January $70,000 $38,000 February $85,000 $41,000 March $101,000 $61,000 Cash is collected from customers in the following manner: Month of sale 35% Month following the sale 65% 50% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labor costs are 25% of sales. Other operating costs are $38,000 per month (including $9,000 of depreciation). Both of these are paid...
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The following information pertains to Tiffany Company: Month
The following information pertains to Tiffany Company: Month Sales Purchases January $30,000 $16,000 February $40,000 $20,000 March $50,000 $28,000 · Cash is collected from customers in the following manner: Month of sale 30% Month following the sale 70% · 40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. · Labor costs are 20% of sales. Other operating costs are $15,000 per month...
January February March $66.000 $89,000 $109,000 $38,000 $42.000 $64,000 Cash is collected from customers in the fol...
January February March $66.000 $89,000 $109,000 $38,000 $42.000 $64,000 Cash is collected from customers in the following manner: Month of sale 40% Month following the sale 60% 40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month Labor costs are 25% of sales. Other operating costs are $30,000 per month (including $9,000 of depreciation). Both of these are paid in the month incurred. The cash balance on March 1...
• • 40% of purchases are paid for in cash in the month of purchase, and...
• • 40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labor costs are 25% of sales. Other operating costs are $36,000 per month (including $10,000 of depreciation). Both of these are paid in the month incurred. The cash balance on March 1 is $10,000. A minimum cash balance of $6,000 is required at the end of the month. Money can be borrowed in multiples of $1,000. •...
The following information pertains to Acme Corporation: Month Sales Purchases July 30,000 10,000 August 34,000 12,000...
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Month January February March Sales $64,000 $82,000 $109,000 Purchases $35,000 $50,000 $65,000 Cash is collected from customers in the following manner: Month of sale 30% Month following the sale 70% 50% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labor costs are 30% of sales. Other operating costs are $31,000 per month (including $10,000 of depreciation). Both of these are paid in the month incurred. The cash balance...
4. Cash Budget (20 points) The following information pertains to Monroe Company: Month December January February March Sales $130,000 $68,000 $87,000 $106,000 Purchases $65,000 $35,000 $46,000 $48,000 • Cash is collected from customers in the following manner: o Month of sale 30% o Month following the sale 65% o Written off as uncollectible 5% 45% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labor costs are 20% of...
4. Cash Budget (20 points) The following information pertains to Monroe Company: Month December January February March Sales Purchases $130,000 $65,000 $68,000 $35,000 $87,000 $46,000 $106,000 $48,000 Cash is collected from customers in the following manner: Month of sale 30% Month following the sale 65% Written off as uncollectible 5% .45% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labor costs are 20% of sales. Other operating costs...
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