Homework Answers
| Hudak Company | ||||
| Cash Budget | ||||
| For the Three months ended March 31 | ||||
| January | February | March | Total | |
| Beginning Cash Balance | 4300 | 4300 | 4300 | 4300 |
| Cash Receipts | 19000 | 29500 | 41000 | 89500 |
| Cash Available | 23300 | 33800 | 45300 | 93800 |
| Cash Payments : | ||||
| All expenses except Interest | 36000 | 35000 | 40000 | 111000 |
| Interest Expense | 0 | 127.5 | 42.21 | 169.71 |
| Total Cash Payments | 36000 | 35127.5 | 40042 | 111170 |
| Ending cash balance before financing | -12700 | -1327.5 | 5258 | -17370 |
| Minimum Cash desired | -4300 | -4300 | -4300 | -4300 |
| Projected Cash excess (deficiency) | -17000 | -5627.5 | 957.8 | -21670 |
| Financing : | ||||
| Borrowing | 17000 | 5627.5 | 0 | 22628 |
| Principal Repayments | 0 | 0 | -957.8 | -957.8 |
| Total Effects of Financing | 17000 | 5627.5 | -957.8 | 21670 |
| Ending Cash Balance | 4300 | 4300 | 4300 | 4300 |
Calculations in Excel :
| Hudak Company | ||||
| Cash Budget | ||||
| For the Three months ended March 31 | ||||
| January | February | March | Total | |
| Beginning Cash Balance | 4300 | =B19 | =C19 | =D19 |
| Cash Receipts | 19000 | 29500 | 41000 | =SUM(B6:D6) |
| Cash Available | =SUM(B5:B6) | =SUM(C5:C6) | =SUM(D5:D6) | =SUM(E5:E6) |
| Cash Payments : | ||||
| All expenses except Interest | 36000 | 35000 | 40000 | =SUM(B9:D9) |
| Interest Expense | 0 | =B16*9%/12 | =C16*9%/12 | =SUM(B10:D10) |
| Total Cash Payments | =SUM(B9:B10) | =SUM(C9:C10) | =SUM(D9:D10) | =SUM(E9:E10) |
| Ending cash balance before financing | =B7-B11 | =C7-C11 | =D7-D11 | =E7-E11 |
| Minimum Cash desired | -4300 | -4300 | -4300 | -4300 |
| Projected Cash excess (deficiency) | =SUM(B12:B13) | =SUM(C12:C13) | =SUM(D12:D13) | =SUM(E12:E13) |
| Financing : | ||||
| Borrowing | =-B14 | =-C14 | 0 | =SUM(B16:D16) |
| Principal Repayments | 0 | 0 | =-D14 | =SUM(B17:D17) |
| Total Effects of Financing | =SUM(B16:B17) | =SUM(C16:C17) | =SUM(D16:D17) | =SUM(B18:D18) |
| Ending Cash Balance | =B12+B18 | =C12+C18 | =D12+D18 | =E12+E18 |
Add Answer to:
23,300 Call levelpis Cash available Cash payments All expenses except interest 36,000 35,000 40,000 111,000 Interest...
Hopp Company requires a minimum cash balance of $3,100. When the company expects a cash deficiency,...
Hopp Company requires a minimum cash balance of $3,100. 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 17% per year. The company has already completed the budgeting process for the first quarter for cash receipts and cash payments for all expenses except...
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...
Harley Company requires a minimum cash balance of $5,000. When the company expects a cash deficiency,...
Harley Company requires a minimum cash balance of $5,000. 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 12% per year. The company has already completed the budgeting process for the first quarter for cash receipts and cash payments for all expenses except...
A) Prepare Drew Consulting's cash budget for January AND February B) How much cash will Drew...
A) Prepare Drew Consulting's cash budget for January
AND February
B) How much cash will Drew borrow in February if cash receipts
from customers that month total $39,000 instead of $49,000
Assume Drew Consulting began January with $15,000 cash. Management forecasts that cash receipts from credit customers will be $48,000 in January and $49,000 in February. Projected cash payments include equipment purchases ($18,000 in January and $41,000 in February) and selling and administrative expenses ($3,000 each month). Drew's bank requires...
Complete a cash budget for Graham Company for January, February, and March. (Complete all answer boxes....
Complete a cash budget for Graham Company for
January, February, and March. (Complete
all answer boxes. Enter a "0" for any zero balances. Round all
amounts entered into the cash budget to the nearest whole dollar.
Enter a cash deficiency with a minus sign or parentheses.)
CAN SOMEONE HELP ME PLS?? I NEED THE ANSWER FOR THREE MONTHS
January, February, and March.
i Reference Cash Receipts from Customers Total sales January February March $ 15,800 $ 12,200 $ 10,500||$ January...
Yosko has $14,500 in cash on hand on January 1 and has collected the following budget...
Yosko has $14,500 in cash on hand on January 1 and has collected the following budget data: (Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yosko has cash payments for selling and administrative expenses including salaries of $55,000 per month plus commissions that are 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $15,000....
i Reference Marlin Company has prepared the following schedules and additional information: (Click the icon to...
i Reference Marlin Company has prepared the following schedules and additional information: (Click the icon to view the cash receipts schedule.) (Click the icon to view the cash payments schedule.) i (Click the icon to view the additional information.) January February March Total Complete a cash budget for M More Info Cash payments: Purchases of direct materi Cash Payments Direct Materials: Accounts Payable balance, January 1 January-Direct material purchases paid in February February-Direct material purchases paid in March Direct labor...
tion Help Reference s 12,400 10,200 S 15,800 38,400 January February MarchTotal Total sales ounts ente...
tion Help Reference s 12,400 10,200 S 15,800 38,400 January February MarchTotal Total sales ounts ente Cash Receipts from Customers: Receivable balance, January 1 8,680 January-Credit sales, collection of January sales in January redit sales, collectión of January sales in February 1,860 $ 1.860 7.140 1,530 February-Credit sales, collection of February sales in February t sales, collection of February sales in March S 1,530 sales 11,060 Done Print Done er Reference January-Credit sales, collection of January sales in January January-Credit...
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments...
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. Cash Receipts Cash payments January $ 526,000 $ 472,800 February 409,500 356,300 March 461,000 534,000 Cash Receipts Cash payments January $ 526,000 $ 472,800 February 409,500 356,300 March 461,000 534,000 According to a credit agreement with its bank, Kayak requires a minimum cash balance of $40,000 at...
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (e...
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. January February March Cash Receipts $519,000 411,000 479,000 Cash payments $ 462,500 354,500 522,000 According to a credit agreement with the company's bank, Kayak promises to have a minimum cash balance of $50,000 at each month-end. In return, the bank has agreed that the company can borrow...
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...
Harley Company requires a minimum cash balance of $5,000. 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 12% per year. The company has already completed the budgeting process for the first quarter for cash receipts and cash payments for all expenses except...
A) Prepare Drew Consulting's cash budget for January
AND February
B) How much cash will Drew borrow in February if cash receipts
from customers that month total $39,000 instead of $49,000
Assume Drew Consulting began January with $15,000 cash. Management forecasts that cash receipts from credit customers will be $48,000 in January and $49,000 in February. Projected cash payments include equipment purchases ($18,000 in January and $41,000 in February) and selling and administrative expenses ($3,000 each month). Drew's bank requires...
Complete a cash budget for Graham Company for
January, February, and March. (Complete
all answer boxes. Enter a "0" for any zero balances. Round all
amounts entered into the cash budget to the nearest whole dollar.
Enter a cash deficiency with a minus sign or parentheses.)
CAN SOMEONE HELP ME PLS?? I NEED THE ANSWER FOR THREE MONTHS
January, February, and March.
i Reference Cash Receipts from Customers Total sales January February March $ 15,800 $ 12,200 $ 10,500||$ January...
Yosko has $14,500 in cash on hand on January 1 and has collected the following budget data: (Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yosko has cash payments for selling and administrative expenses including salaries of $55,000 per month plus commissions that are 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $15,000....
i Reference Marlin Company has prepared the following schedules and additional information: (Click the icon to view the cash receipts schedule.) (Click the icon to view the cash payments schedule.) i (Click the icon to view the additional information.) January February March Total Complete a cash budget for M More Info Cash payments: Purchases of direct materi Cash Payments Direct Materials: Accounts Payable balance, January 1 January-Direct material purchases paid in February February-Direct material purchases paid in March Direct labor...
tion Help Reference s 12,400 10,200 S 15,800 38,400 January February MarchTotal Total sales ounts ente Cash Receipts from Customers: Receivable balance, January 1 8,680 January-Credit sales, collection of January sales in January redit sales, collectión of January sales in February 1,860 $ 1.860 7.140 1,530 February-Credit sales, collection of February sales in February t sales, collection of February sales in March S 1,530 sales 11,060 Done Print Done er Reference January-Credit sales, collection of January sales in January January-Credit...
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. January February March Cash Receipts $519,000 411,000 479,000 Cash payments $ 462,500 354,500 522,000 According to a credit agreement with the company's bank, Kayak promises to have a minimum cash balance of $50,000 at each month-end. In return, the bank has agreed that the company can borrow...
Most questions answered within 3 hours.
-
List and compare different forms of passive transport and active
transport.
asked 5 minutes ago -
In Netherland Dwarf rabbits, dwarf size is determined by allele
N, and normal-size by allele n....
asked 11 minutes ago -
During Heaton Company’s first two years of operations, it
reported absorption costing net operating income as...
asked 26 minutes ago -
Consider testing the
hypotheses:
H0: p = 0.56
H1: p > 0.56
where p is
the...
asked 29 minutes ago -
In a two-factor analysis of variance a main effect is defined as
____.
a. the unique...
asked 36 minutes ago -
A bank's loan officer rates applicants for credit. The ratings
are normally distributed with a mean...
asked 37 minutes ago -
Fill in the following information for Adipic Acid: molecular
weight, g or ml, mole, melting point,...
asked 42 minutes ago -
how
to use a for loop to iterate over the string below and print each
character...
asked 44 minutes ago -
Please type answer, Thanks.
Respond to the following in a minimum of 175
words:
Research industry...
asked 44 minutes ago -
Assume that all interest rates in the economy increase from 9
percent to 10 percent. Which...
asked 54 minutes ago -
Describe the function of a Change Control Board.
When calculating Planned Value (PV), what is the...
asked 59 minutes ago -
The customer help center in your company receives calls from
customers who need help with some...
asked 1 hour ago