Homework Answers
|
Budgeted Cash Disbursements For The Month of August |
|
| Cash disbursements: | |
| Payment for merchandise ($150,000*70%+180,000*30%) | $159,000 |
| Payment for operating expenses (20,000-2,000) | 18,000 |
| Payment for loan including interest | 3,000 |
| Total budgeted cash disbursements | $180,000 |
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Schedule of Projected Cash Disbursements for Maris Brothers, Inc. Feb Mar Apr May Jun Jul Sales...
Schedule of Projected Cash Disbursements for Maris
Brothers, Inc.
Feb
Mar
Apr
May
Jun
Jul
Sales
$
$
$
Disbursements
Purchases
$
$
$
Cash
$
1 month delay
$
2 month delay
$
Rent
$
Wages and salary
Fixed
$
Variable
$
Taxes
$
Fixed assets
$
Interest
$
Cash dividends
$
Total
Disbursements
$
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Schedule of Projected Cash Disbursements for Maris
Brothers, Inc.
Feb
Mar
Apr
May
Jun
Jul
Sales
$
$
$
Disbursements
Purchases
$
$
$
Cash
$
1 month delay
$
2 month delay
$
Rent
$
Wages and salary
Fixed
$
Variable
$
Taxes
$
Fixed assets
$
Interest
$
Cash dividends
$
Total
Disbursements
$
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During the last week of August, Apache Arts Company's owner approaches the bank for an $80,000 loan to be made on September 2 and repaid on November 30 with annual interest of 12%, for an interest cost of $2,400. The owner plans to increase the store's inventory by $60,000 during September and needs the loan to pay for inventory acquisitions. The bank's loan officer needs more information about Apache Arts' ability to repay the loan and asks the owner to...
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