Question

Question 2 of 8 < - / 10 lli View Policies Current Attempt in Progress Cullumber Company has the following cash budget inform
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Cullumber Company (August)

The company would have to invest = Beginning cash balance + cash receipts from sales and collection on account + collection of notes receivable and interest - cash disbursement for operating expenses - minimum maintenance of ending cash balance

= $ 123,000 + $ 122,000 + $ 8,300 - $ 97,000 - $ 113,000

= $ 43,300

The company would have to invest $ 43,300

Add a comment
Know the answer?
Add Answer to:
Question 2 of 8 < - / 10 lli View Policies Current Attempt in Progress Cullumber...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Cullumber Company has the following cash budget information available for the month of August: Beginning cash...

    Cullumber Company has the following cash budget information available for the month of August: Beginning cash balance $123,000 Cash receipts from sales and collections on account 122,000 Collection of note receivable and interest 8,300 Cash disbursements for operating expenses 97,000 If the company has a policy of maintaining an end of the month cash balance of $113,000, determine the amount the company would have to borrow or the amount of excess cash it will have to invest in August. The...

  • Question 4 0/1 View Policies Show Attempt History Current Attempt in Progress X Your answer is...

    Question 4 0/1 View Policies Show Attempt History Current Attempt in Progress X Your answer is incorrect. At August 31, Cullumber Company has a cash balance per books of $9,700 and the following additional data from the bank statement: charge for printing Cullumber Company checks $35 and interest earned on checking account balance $40. In addition, Cullumber Company has outstanding checks of $980. Determine the adjusted cash balance per books at August 31. The adjusted cash balance per books at...

  • Question 9 View Policies Current Attempt in Progress On June 1, 2022, Cullumber Company was started...

    Question 9 View Policies Current Attempt in Progress On June 1, 2022, Cullumber Company was started with an initial investment in the company of $19,750 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2022, and the revenues and expenses for the month of June, its first month of operations: Cash $4,730 Notes payable $12,260 Accounts receivable 4,330 Accounts payable 830 Service revenue 7,900 Supplies expense 955 Supplies 2,387 Maintenance and repairs expense 670...

  • Question 3 View Policies Show Attempt History Current Attempt in Progress * Your answer is incorrect....

    Question 3 View Policies Show Attempt History Current Attempt in Progress * Your answer is incorrect. mthe bank statement change for printing Ivanhoe Company checks $35 and rest earned on checking At August 31, Ivanhoe Company has a cash balance per books of $8.600 and the following addit account balance $40. In addition, Ivanhoe Company us outstanding checks of $760 Determine the adjusted cash balance per books August 31 The adjusted cash balance per books at August 31

  • View Policies Current Attempt in Progress In the first month of operations, the total of the...

    View Policies Current Attempt in Progress In the first month of operations, the total of the debit entries to the Cash account amounted to $5180 and the total of the credit entries to the Cash account amounted to $2960. At the end of the month, the Cash account has a O $2960 credit balance. O $2220 credit balance. O $2220 debit balance. O $5180 debit balance. View Policies Current Attempt in Progress A company's total liabilities decreased by $141000 and...

  • Question 10 --/2 View Policies Current Attempt in Progress Danner Company expects to have a cash...

    Question 10 --/2 View Policies Current Attempt in Progress Danner Company expects to have a cash balance of $54,900 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows. Collections from customers: January $103,700, February $183,000. Payments for direct materials: January $61,000, February $91,500. Direct labor: January $36,600, February $54,900. Wages are paid in the month they are incurred. Manufacturing overhead: January $25,620, February $30,500. These costs include depreciation of $1,830 per...

  • Question 8 View Policies Current Attempt in Progress Oriole Company expects to have a cash balance...

    Question 8 View Policies Current Attempt in Progress Oriole Company expects to have a cash balance of $96,600 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2022 1. Collections from customers: January $149,100, February $306,600. 2. Payments to suppliers: January $84.000, February $157,500. 3. Wages: January $63.000, February $84,000. Wages are paid in the month they are incurred. 4. Administrative expenses: January $44,100. February $50.400. These costs include depreciation of $2,100...

  • View Policies Current Attempt in Progress Cullumber Corporationis adjusted trial balance contained the following accounts at...

    View Policies Current Attempt in Progress Cullumber Corporationis adjusted trial balance contained the following accounts at December 31, 2020: Retained Earnings $120.900, Common Stock $759.600, Bonds Payable $103.200, Pald-in Capital in Excess of Par-Common Stock $204,800, Goodwill $57,700. Accumulated Other Comprehensive Loss $158.900, and Noncontrolling Interest $38,200. Prepare the stockholders' equity section of the balance sheet. CULLUMBER CORPORATION Balance Sheet (Partial) On

  • Question 7 View Policies Current Attempt in Progress On June 1, Cullumber Company issues 2,500 shares...

    Question 7 View Policies Current Attempt in Progress On June 1, Cullumber Company issues 2,500 shares of no-par common stock at a cash price of $5 per share. Journalize the issuance of the shares assuming the stock has a stated value of $1 per share. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles...

  • Question 12 View Policies Current Attempt in Progress Danner Company expects to have a cash balance...

    Question 12 View Policies Current Attempt in Progress Danner Company expects to have a cash balance of $56.250 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows. Collections from customers January 5106.250. February $187.500. Payments for direct materials: January 562.500, February $93.750. Direct labor: January $37.500. February 556.250. Wages are paid in the month they are incurred. Manufacturing overhead: January $26.250. February $31.250. These costs include depreciation of $1875 per month....

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT