During July, how much will Tech Star Company need to borrow?
Tech Star Company must maintain a minimum cash balance of $25,000. At the beginning of June, the company's cash balance was $17,000. Budgeted cash receipts for June are $150,000 and budgeted cash disbursements are $201,000. Budgeted net income for July totals $11,000. During July, how much will Tech Star Company need to borrow?
A. $43,000
B. $59,000
C. $9,000
D. $34,000
Homework Answers
Shorstein Manufacturing Company purchases raw materials on account each month. Purchases are paid for according to...
Shorstein Manufacturing Company purchases raw materials on account each month. Purchases are paid for according to the following schedule: 30% is paid in the month of the purchase 60% is paid in the month following the purchase 10% is paid in the second month following the purchase Budgeted purchases are as follows: March $75,000 April $90,000 May $85,000 How much will be reported for Accounts Payable for material purchases as of the end of May? $59,500 O $68,500 $87,000 $95,500...
Western Company is preparing a cash budget for June. The company has $11,000 cash at the...
Western Company is preparing a cash budget for June. The company has $11,000 cash at the beginning of June and anticipates $31,000 in cash receipts and $36,500 in cash disbursements during June. Western Company has an agreement with its bank to maintain a minimum cash balance of $10,000. As of May 31, the company owes $15,000 to the bank. To maintain the $10,000 required balance, during June the company must: Borrow $10,000. Borrow $4,500. Repay $5,500. Repay $4,500. Borrow $5,500.
#17 Sedita Inc. is working on its cash budget for July. The budgeted beginning cash balance...
#17
Sedita Inc. is working on its cash budget for July. The budgeted beginning cash balance is $13,000. Budgeted cash receipts total $182,000 and budgeted cash disbursements total $181,000. The desired ending cash balance is $35,000. The excess (deficiency) of cash available over disbursements for July will be: A$12,000 B) $195,000 C) $14.000 D) $1000 93 17 12, doo 17) Sparks Corporation has a cash balance of $15,300 on April 1. The company must maintain a minimum cash balance of...
16&17 Sedita Inc. is working on its cash budget for July, The budgeted beginning cash balance is $13,000. Budget...
16&17
Sedita Inc. is working on its cash budget for July, The budgeted beginning cash balance is $13,000. Budgeted cash receipts total $182,000 and budgeted cash disbursements total $181,000. The desired ending cash balance is $35,000. The excess (deficiency) of cash available over disbursements for July will be S12,000 B) $195,000 D) $1000 C) $14,000 193 (2rdou 17) Sparks Corporation has a cash balance of $15,300 on April 1. The company must maintain a minimum cash balance of $12,500. During...
Sedita Inc. is working on its cash budget for July. The budgeted beginning cash balance is...
Sedita Inc. is working on its cash budget for July. The budgeted beginning cash balance is $25,000. Budgeted cash receipts total $197,000 and budgeted cash disbursements total $196,000. The desired ending cash balance is $43,000. The excess (deficiency) of cash available over disbursements for July will be: Multiple Choice $26,000 $24,000 $1,000 $222,000
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...
1. Lindell Co. expects to purchase $20,600 of materials in July and $24,200 of materials in...
1. Lindell Co. expects to purchase $20,600 of materials in July and $24,200 of materials in August. 30.00% of all purchases are paid for in the month of purchase, and the remaining 70.00% are paid for in the month following the month of purchase. What will be the company's cash disbursements in August? $38,620 $23,120 $21,680 $27,860 2. Hamilton Industries must maintain a minimum cash balance of $37,000. At the beginning of February the company's cash balance was $66,000. The...
Question 47 Sultan Sundries must maintain a minimum cash balance of $34,000. At the beginning of...
Question 47 Sultan Sundries must maintain a minimum cash balance of $34,000. At the beginning of February the company's cash balance was $60,000. The budget for February is as follows Total cash receipts $250,000 Totalcari disbursements 5245.000 Netin.com $50.00 $35.000 Pemanner bygge During February, how much will Sultan need to borrow? $50,000 $25,000 Click if you would like to
Smith Company has a budgeted beginning cash balance of $11,000, and a required minimum cash of...
Smith Company has a budgeted beginning cash balance of $11,000, and a required minimum cash of $5,000. Their budgeted cash flows are below. How much do they need to borrow to maintain their minimum cash balance? A. $4,000 B. $9,000 C. $14,000 D. $20,000 Payments to suppliers Cash dividends paid Collections from customers Lease payments Depreciation expense $25,000 5,000 45,000 10,000 5,000
Smith Company has a budgeted beginning cash balance of $11,000 and required minimum cash of $5,000....
Smith Company has a budgeted beginning cash balance of $11,000 and required minimum cash of $5,000. Their budgeted cash flows are below. How much do they need to borrow to maintain their minimum cash balance? A. $4,000 B. $9,000 C. $14,000 D. $20,000 Payments to suppliers $25,000 Cash dividends paid 5,000 Collections from customers 45,000 Lease payments 10,000 Depreciation expense 5,000 Other cash expenses 20,000
Shorstein Manufacturing Company purchases raw materials on account each month. Purchases are paid for according to the following schedule: 30% is paid in the month of the purchase 60% is paid in the month following the purchase 10% is paid in the second month following the purchase Budgeted purchases are as follows: March $75,000 April $90,000 May $85,000 How much will be reported for Accounts Payable for material purchases as of the end of May? $59,500 O $68,500 $87,000 $95,500...
#17
Sedita Inc. is working on its cash budget for July. The budgeted beginning cash balance is $13,000. Budgeted cash receipts total $182,000 and budgeted cash disbursements total $181,000. The desired ending cash balance is $35,000. The excess (deficiency) of cash available over disbursements for July will be: A$12,000 B) $195,000 C) $14.000 D) $1000 93 17 12, doo 17) Sparks Corporation has a cash balance of $15,300 on April 1. The company must maintain a minimum cash balance of...
16&17
Sedita Inc. is working on its cash budget for July, The budgeted beginning cash balance is $13,000. Budgeted cash receipts total $182,000 and budgeted cash disbursements total $181,000. The desired ending cash balance is $35,000. The excess (deficiency) of cash available over disbursements for July will be S12,000 B) $195,000 D) $1000 C) $14,000 193 (2rdou 17) Sparks Corporation has a cash balance of $15,300 on April 1. The company must maintain a minimum cash balance of $12,500. During...
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...
Question 47 Sultan Sundries must maintain a minimum cash balance of $34,000. At the beginning of February the company's cash balance was $60,000. The budget for February is as follows Total cash receipts $250,000 Totalcari disbursements 5245.000 Netin.com $50.00 $35.000 Pemanner bygge During February, how much will Sultan need to borrow? $50,000 $25,000 Click if you would like to
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