Correct answer-------------(B) $15,000
Working
July | August | |
Beginning cash balance | $ 4,500 | $ 9,200 |
Add: Collections | $ 50,000 | $ 39,700 |
Cash available | $ 54,500 | $ 48,900 |
Less: Cash payments for | ||
Purchase of direct material | $ 30,000 | $ 22,000 |
Operating expenses | $ 12,300 | $ 8,700 |
Capital expenditure | $ 13,000 | $ 24,400 |
Interest expense on loan | $ 33 | |
Total cash payment | $ 55,300 | $ 55,133 |
Cash balance before financing | $ (800) | $ (6,233) |
Loan taken | $ 10,000 | $ 15,000 |
Loan (repaid) | ||
Ending cash balance | $ 9,200 | $ 8,767 |
na Muusuun 3 pts 21 of 40 (19 complete This Quilt: 100 pts possible O Aug...
Jul Kennison, Inc. has prepared its third quarter budget and provided the following data: Aug Sep Cash collections $49,000 $39,500 $47,100 Cash payments: Purchases of direct materials 28,000 21,800 17,000 Operating expenses 12,300 9,100 11,400 Capital expenditures 13,800 24,700 The cash balance on June 30 is projected to be $4,100. The company has to maintain a minimum cash balance of $5,000 and is authorized to borrow at the end of each month to make up any shortfalls. It may borrow...
Lindsey Chocolate, Inc. has prepared its third quarter budget and provided the following data Jul S50,000 Aug 539,700 Sep $46,400 Cash collections Cash payments Purchases of direct materials Operating expenses Capital expenditures 22,100 8,700 24,100 29,000 12.400 13.800 17,800 11,400 The cash balance on June 30 is projected to be $4,100. The company has to maintain a minimum cash balance of $5,000 and is authorized to borrow at the end of each month to make up any shortfalls. It may...
3 of 4 (2 complete) HW Score: 5.71%, 3.43 of 60 pts Score: 0 of 10 pts CP22-57 Continuing Problem (similar to) Question Help Assume Dean Consulting began January with $14,000 cash. Management forecasts that cash receipts from credit customers will be $56,000 in January and $60,000 in February. Projected cash payments include equipment purchases (522,000 in January and $45,000 in February) and selling and administrative experises $10,000 each month). Dean's bank requires a $20,000 minimum balance in the firm's...
Homework: Topic 3 Homework (Chapter 22) Score: 9.55 of 10 pts 3 of 4 (3 complete) CP22-57 Continuing Problem (similar to) HW Score: 32.58%, 19.55 of 60 pts Question Help Assume Dean Consulting began January with $14,000 cash Management forecasts that cash receipts from credit customers will be $56,000 in January and 60.000 in February. Projected cash payments include upment purchases (522,000 in January and $45.000 in February) and selling and administrative expenses $10.00 each month) Dean's bank requires a...
CC241 Uses of Accounting Info ll - Online/Course - Smr 3 2020 Afnan Aluwaill & 07/31/20 2:56 AM Save HW Score: 93.99%, 8.46 of 9 pts Homework: Chapter 9 Homework (required) bore: 0.46 of 1 pt 9 of 99 complete BP9-57A (similar to) Derry Manufacturing is preparing is master budget for the first quarter of the upcoming year. The following dito pertanto Derry Man's persone (Click the icon to view the data) Read the requirements More Info Question Help Requirement...