Homework Answers
| Beginning cash balance | 42,000 |
| Add:Cash receipts | 290,000 |
| Less:Cash disbursements | (340,000) |
| Ending cash balance available | (8000) |
| Required cash balance | 40,000 |
| Borrowings(40,000-(8000)) | $48,000 |
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Multiple Choice Question 154 On January 1, Kale Company has a beginning cash balance of $42,000....
Varughese Inc. is working on its cash budget for March. The budgeted beginning cash balance is...
Varughese Inc. is working on its cash budget for March. The budgeted beginning cash balance is $33,000. Budgeted cash receipts total $182,000 and budgeted cash disbursements total $191,000. The desired ending cash balance is $40,000. To attain its desired ending cash balance for March, the company needs to borrow: Multiple Choice o $40,000 o o $16,000 o $64,000
Bries Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $19,400....
Bries Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $19,400. Budgeted cash receipts total $190,000 and budgeted cash disbursements total $190,800. The desired ending cash balance is $31,400. To attain its desired ending cash balance for January, the company should borrow: Multiple Choice $50,000 $31,400 $0 $12,800
25. During September, the capital expenditure budget indicates a $280,000 purchase of equipment. The September cash...
25. During September, the capital expenditure budget indicates a $280,000 purchase of equipment. The September cash balance (Net Cash) from Operations is budgeted to be $40,000 before considering the capital expenditure purchase. The company wants to maintain a minimum cash balance (ED) of $20,000 What is the minimum cash loan that must be planned to be borrowed from the bank during September A) $220,000 B) $240,000 C) $260,000 D) $300,000 26. On January 1, Old Lao Shu Bruce Company has...
Primative Company is preparing a cash budget for February. The company has $11,600 cash at the...
Primative Company is preparing a cash budget for February. The company has $11,600 cash at the beginning of February and anticipates $30,400 in cash receipts and $35,300 in cash disbursements during February. Primative Company has an agreement with its credit union to maintain a cash balance of no less than $10,000. As of January 31, the company owes $15,000 to the credit union. To maintain the $10,000 agreed to balance, during February the company must: Multiple Choice 0 Repay $6,700....
Sparks Corporation has a cash balance of $19,500 on April 1. The company must maintain a...
Sparks Corporation has a cash balance of $19,500 on April 1. The company must maintain a minimum cash balance of $16,000. During April, expected cash receipts are $68,000. Cash disbursements during the month are expected to total $82.000. Ignoring interest payments, during April the company will need to borrow Multiple Choice o $5,500 o O s14,000 S14.000 o o s10,500 S10,500 o 516 000
Sparks Corporation has a cash balance of $17,100 on April 1. The company must maintain a...
Sparks Corporation has a cash balance of $17,100 on April 1. The company must maintain a minimum cash balance of $14,000. During April, expected cash receipts are $64,000. Cash disbursements during the month are expected to total $76,000. Ignoring interest payments, during April the company will need to borrow: Multiple Choice $5,100 $14,000 $12,000
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
Zolezzi Inc. is preparing its cash budget for March. The budgeted beginning cash balance is $20,000....
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...
Flounder Company expects to have a cash balance of $52,470 on January 1, 2017. Relevant monthly...
Flounder Company expects to have a cash balance of $52,470 on January 1, 2017. Relevant monthly budget data for the first 2 months of 2017 are as follows. Collections from customers: January $99,110, February $174,900. Payments for direct materials: January $58,300, February $87,450. Direct labor: January $34,980, February $52,470. Wages are paid in the month they are incurred. Manufacturing overhead: January $24,486, February $29,150. These costs include depreciation of $1,749 per month. All other overhead costs are paid as incurred....
Sparks Corporation has a cash balance of $7,500 on April 1. The company must maintain a...
Sparks Corporation has a cash balance of $7,500 on April 1. The company must maintain a minimum cash balance of $6,000. During April, expected cash receipts are $48,000. Cash disbursements during the month are expected to total $52,000. Ignoring interest payments, during April the company will need to borrow: $2,500 $3,500 $4,000 $6,000
Varughese Inc. is working on its cash budget for March. The budgeted beginning cash balance is $33,000. Budgeted cash receipts total $182,000 and budgeted cash disbursements total $191,000. The desired ending cash balance is $40,000. To attain its desired ending cash balance for March, the company needs to borrow: Multiple Choice o $40,000 o o $16,000 o $64,000
25. During September, the capital expenditure budget indicates a $280,000 purchase of equipment. The September cash balance (Net Cash) from Operations is budgeted to be $40,000 before considering the capital expenditure purchase. The company wants to maintain a minimum cash balance (ED) of $20,000 What is the minimum cash loan that must be planned to be borrowed from the bank during September A) $220,000 B) $240,000 C) $260,000 D) $300,000 26. On January 1, Old Lao Shu Bruce Company has...
Primative Company is preparing a cash budget for February. The company has $11,600 cash at the beginning of February and anticipates $30,400 in cash receipts and $35,300 in cash disbursements during February. Primative Company has an agreement with its credit union to maintain a cash balance of no less than $10,000. As of January 31, the company owes $15,000 to the credit union. To maintain the $10,000 agreed to balance, during February the company must: Multiple Choice 0 Repay $6,700....
Sparks Corporation has a cash balance of $19,500 on April 1. The company must maintain a minimum cash balance of $16,000. During April, expected cash receipts are $68,000. Cash disbursements during the month are expected to total $82.000. Ignoring interest payments, during April the company will need to borrow Multiple Choice o $5,500 o O s14,000 S14.000 o o s10,500 S10,500 o 516 000
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
Flounder Company expects to have a cash balance of $52,470 on January 1, 2017. Relevant monthly budget data for the first 2 months of 2017 are as follows. Collections from customers: January $99,110, February $174,900. Payments for direct materials: January $58,300, February $87,450. Direct labor: January $34,980, February $52,470. Wages are paid in the month they are incurred. Manufacturing overhead: January $24,486, February $29,150. These costs include depreciation of $1,749 per month. All other overhead costs are paid as incurred....
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