Homework Answers
* Beginning cash balance of october is the ending cash balance of september.
* and beginning cash balance of novemeber is the ending cash balance of october which is calculated above.
Please check with your answer and let me know.
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how do i calculate the beginning cash balance for october and
november?
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Check my work During the last week of August, Oneida Company's owner approaches the bank for...
Check my work During the last week of August, Oneida Company's owner approaches the bank for a $110,000 loan to be made on September 2 and repaid on November 30 with annual interest of 17%, for an interest cost of $4,675. 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 Oneida's ability to repay the loan and asks the owner...
just need the rest of the uncollectibles Problem 20-6AA Merchandising: Preparation of cash budgets (for three...
just need the rest of the uncollectibles
Problem 20-6AA Merchandising: Preparation of cash budgets (for three periods) LO P4 During the last week of August, Oneida Company's owner approaches the bank for a $100,000 loan to be made on September 2 and repaid on November 30 with annual interest of 12%, for an interest cost of $3,000. The owner plans to increase the store's inventory by $80,000 during September and needs the loan to pay for inventory acquisitions. The bank's...
During the last week of August, Oneida Company’s owner approaches the bank for a $98,500 loan...
During the last week of August, Oneida Company’s owner
approaches the bank for a $98,500 loan to be made on September 2
and repaid on November 30 with annual interest of 10%, for an
interest cost of $2,463. 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 Oneida’s ability to repay the loan and asks the
owner to forecast the...
During the last week of August, Oneida Company's owner approaches the bank for a $108,000 loan...
During the last week of August, Oneida Company's owner approaches the bank for a $108,000 loan to be made on September 2 and repaid on November 30 with annual interest of 12%, for an interest cost of $3,240. 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 Oneida's ability to repay the loan and asks the owner to forecast the...
During the last week of August, Oneida Company's owner approaches the bank for a $98,500 loan...
During the last week of August, Oneida Company's owner approaches the bank for a $98,500 loan to be made on September 2 and repaid on November 30 with annual interest of 15%, for an interest cost of $3,694. 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 Oneida's ability to repay the loan and asks the owner to forecast the...
During the last week of August, Oneida Company's owner approaches the bank for a $105,000 loan...
During the last week of August, Oneida Company's owner approaches the bank for a $105,000 loan to be made on September 2 and repaid on November 30 with annual interest of 12%, for an interest cost of $3150. 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 Oneida's ability to repay the loan and asks the owner to forecast the...
Use the following information to prepare the September cash budget for PTO Manufacturing Co. The following...
Use the following information to prepare the September cash
budget for PTO Manufacturing Co. The following information relates
to expected cash receipts and cash payments for the month ended
September 30.
Beginning cash balance, September 1, $40,000.
Budgeted cash receipts from sales in September, $255,000.
Raw materials are purchased on account. Purchase amounts are:
August (actual), $80,000; and September (budgeted), $110,000.
Payments for direct materials are made as follows: 65% in the month
of purchase and 35% in the month...
Graham Potato Company has projected sales of $10,800 in September, $14,000 in October, $20,800 in November,...
Graham Potato Company has projected sales of $10,800 in September, $14,000 in October, $20,800 in November, and $16,800 in December. Of the company's sales, 30 percent are paid for by cash and 70 percent are sold on credit. Experience shows that 40 percent of accounts receivable are paid in the month after the sale, while the remaining 60 percent are paid two months after. Determine collections for November and December. Also assume Graham's cash payments for November and December are...
3) The following information pertains to Amigo Corporation: Month July August September October November December Sa...
3) The following information pertains to Amigo Corporation: Month July August September October November December Sales $30,000 34,000 38,000 42,000 48,000 60,000 Purchases $10,000 12,000 14,000 16,000 18,000 20,000 Cash is collected from customers in the following manner: Month of sale 40% Month following sale 40% Two months following sale 20% • 60% of purchases are paid for in cash in the month of purchase, and the other 40% is paid the following month. Required: Complete the cash budget for...
Graham Potato Company has projected sales of $18,000 in September, $20,000 in October, $28.000 in November,...
Graham Potato Company has projected sales of $18,000 in September, $20,000 in October, $28.000 in November, and $24,000 ir December of the company's sales. 20 percent are paid for by cash and 80 percent are sold on credit. Experience shows that 40 percent of accounts receivable are paid in the month after the sale, while the remaining 60 percent are paid two months after. Determine collections for November and December Also assume Graham's cash payments for November and December are...
Check my work During the last week of August, Oneida Company's owner approaches the bank for a $110,000 loan to be made on September 2 and repaid on November 30 with annual interest of 17%, for an interest cost of $4,675. 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 Oneida's ability to repay the loan and asks the owner...
just need the rest of the uncollectibles
Problem 20-6AA Merchandising: Preparation of cash budgets (for three periods) LO P4 During the last week of August, Oneida Company's owner approaches the bank for a $100,000 loan to be made on September 2 and repaid on November 30 with annual interest of 12%, for an interest cost of $3,000. The owner plans to increase the store's inventory by $80,000 during September and needs the loan to pay for inventory acquisitions. The bank's...
During the last week of August, Oneida Company’s owner
approaches the bank for a $98,500 loan to be made on September 2
and repaid on November 30 with annual interest of 10%, for an
interest cost of $2,463. 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 Oneida’s ability to repay the loan and asks the
owner to forecast the...
During the last week of August, Oneida Company's owner approaches the bank for a $108,000 loan to be made on September 2 and repaid on November 30 with annual interest of 12%, for an interest cost of $3,240. 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 Oneida's ability to repay the loan and asks the owner to forecast the...
During the last week of August, Oneida Company's owner approaches the bank for a $98,500 loan to be made on September 2 and repaid on November 30 with annual interest of 15%, for an interest cost of $3,694. 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 Oneida's ability to repay the loan and asks the owner to forecast the...
During the last week of August, Oneida Company's owner approaches the bank for a $105,000 loan to be made on September 2 and repaid on November 30 with annual interest of 12%, for an interest cost of $3150. 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 Oneida's ability to repay the loan and asks the owner to forecast the...
Use the following information to prepare the September cash
budget for PTO Manufacturing Co. The following information relates
to expected cash receipts and cash payments for the month ended
September 30.
Beginning cash balance, September 1, $40,000.
Budgeted cash receipts from sales in September, $255,000.
Raw materials are purchased on account. Purchase amounts are:
August (actual), $80,000; and September (budgeted), $110,000.
Payments for direct materials are made as follows: 65% in the month
of purchase and 35% in the month...
Graham Potato Company has projected sales of $10,800 in September, $14,000 in October, $20,800 in November, and $16,800 in December. Of the company's sales, 30 percent are paid for by cash and 70 percent are sold on credit. Experience shows that 40 percent of accounts receivable are paid in the month after the sale, while the remaining 60 percent are paid two months after. Determine collections for November and December. Also assume Graham's cash payments for November and December are...
3) The following information pertains to Amigo Corporation: Month July August September October November December Sales $30,000 34,000 38,000 42,000 48,000 60,000 Purchases $10,000 12,000 14,000 16,000 18,000 20,000 Cash is collected from customers in the following manner: Month of sale 40% Month following sale 40% Two months following sale 20% • 60% of purchases are paid for in cash in the month of purchase, and the other 40% is paid the following month. Required: Complete the cash budget for...
Graham Potato Company has projected sales of $18,000 in September, $20,000 in October, $28.000 in November, and $24,000 ir December of the company's sales. 20 percent are paid for by cash and 80 percent are sold on credit. Experience shows that 40 percent of accounts receivable are paid in the month after the sale, while the remaining 60 percent are paid two months after. Determine collections for November and December Also assume Graham's cash payments for November and December are...
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