In preparing its cash budget for May, Ben Co. made the following projections: Sales $3,000,000 Gross...
In preparing its cash budget for May, Ben Co. made the following
projections:
|
Sales |
$3,000,000 |
|
Gross margin (based on sales) |
25% |
|
Decrease in inventories |
$140,000 |
|
Increase in accounts payable for inventories |
$240,000 |
For May, How much were the estimated cash disbursements for inventories (purchases from suppliers)?
Homework Answers
Add Answer to:
In preparing its cash budget for May, Ben Co. made the following
projections:
Sales
$3,000,000
Gross...
Papst Company is preparing its cash budget for the month of May. The following information is...
Papst Company is preparing its cash budget for the month of May. The following information is available concerning its accounts receivable (based on sales made to customers on open account): Actual credit sales for March Actual credit sales for April Estimated credit sales for May Estimated collections in the month of sale Estimated collections in the first month after the month of sale Estimated collections in the second month after the month of sale Estimated provision for bad debts (made...
Papst Company is preparing its cash budget for the month of May. The following information is...
Papst Company is preparing its cash budget for the month of May. The following information is available concerning its accounts receivable (based on sales made to customers on open account): Actual credit sales for March Actual credit sales for April Estimated credit sales for May Estimated collections in the month of sale Estimated collections in the first month after the month of sale stimated collections in the second month after the month of sale Estimated provision for bad debts (made...
The Express Company is preparing its cash budget for the month of June. The following information...
The Express Company is preparing its cash budget for the month of June. The following information is available concerning its inventories: Inventories at beginning of June $ 84,500 Estimated purchases of June 364,000 Estimated cost of goods sold for June 371,500 Estimated payments in June for purchases in May 90,250 Estimated payments in June for purchases prior to May49,000 Estimated payments in June for purchases in June 80% What are the estimated cash disbursements for inventories in June? Multiple Choice...
TI-1706SV I1. Problems Sweeny Co. is preparing a cash budget for May. The following forecasted data...
TI-1706SV I1. Problems Sweeny Co. is preparing a cash budget for May. The following forecasted data is available: 1. April May Beginning Loan Balance Sales Merchandise purchases Operating expenses (all paid in cash): Payroll Advertising $36,000 $177,500 132,400 $150,500 $127.000 16,280 7,700 3,500 Rent Additional data: (1) Loan balance at beginning of May is $36,000 (as noted above). Interest due each month is 26 of loan balance. (2) Any cash balance above $40,000 is used to repay as much of...
Papst Company is preparing its cash budget for the month of May. The following information is...
Papst Company is preparing its cash budget for the month of May. The following information is available concerning its accounts receivable (based on sales made to customers on open account): Actual credit sales for March $ 185,000 Actual credit sales for April $ 237,000 Estimated credit sales for May $ 342,000 Estimated collections in the month of sale 25 % Estimated collections in the first month after the month of sale 60 % Estimated collections in the second month after...
Cascade, Ltd., a merchandising firm, is preparing its cash budget for March. The following information is...
Cascade, Ltd., a merchandising firm, is preparing its cash budget for March. The following information is available conceming its inventories: Inventories at beginning of March $ 378,750 Estimated purchases for March 1,485, ese Estimated cost of goods sold for March 1,518,750 Estimated payments in March for purchases in February 371,250 Estimated payments in March for purchases prior to 67 SAA February Estimated payments in March for purchases in March sex Required: What are the estimated cash disbursements in March? Estimated...
Cascade, Ltd., a merchandising firm, is preparing its cash budget for March. The following information is...
Cascade, Ltd., a merchandising firm, is preparing its cash budget for March. The following information is available concerning its inventories: 2.5 points $ Skipped Inventories at beginning of March Estimated purchases for March Estimated cost of goods sold for March Estimated payments in March for purchases in February Estimated payments in March for purchases prior to February Estimated payments in March for purchases in March 348,750 1,366,000 1,398,000 343,000 63,000 70% eBook Required: What are the estimated cash disbursements in...
Cash Disbursement Timber Company is in the process of preparing its budget for next year. Cost...
Cash Disbursement Timber Company is in the process of preparing its budget for next year. Cost of goods sold has been estimated at 70 percent of sales. Lumber purchases and payments are to be made during the month preceding the month of sale. Wages are estimated at 15 percent of sales and are paid during the month of sale. Other operating costs amounting to 10 percent of sales are to be paid in the month following the month of sale....
A company is preparing its cash budget for the coming month. All sales are on account....
A company is preparing its cash budget for the coming month. All sales are on account. Given the following: Budget Amounts Beginning Balances $230,000 210,000 Cash Accounts Receivable Sales Cash disbursements Depreciation Ending accounts receivable balance $ 950,000 1,080,000 40,000 240,000 What is the expected cash balance of the company at the end of the coming month? (CIA adapted) Multiple Choice 0 $26,300 < Prev 13 of 34 8 Next >
Support Timber Company is in the process of preparing its budget for next year. Cost of...
Support Timber Company is in the process of preparing its budget for next year. Cost of goods sold has been estimated at 70 percent of sales. Lumber purchases and payments are to be made during the month preceding the month of sale. Wages are estimated at 15 percent of sales and are paid during the month of sale. Other operating costs amounting to 10 percent of sales are to be paid in the month following the month of sale. Additionally,...
Papst Company is preparing its cash budget for the month of May. The following information is available concerning its accounts receivable (based on sales made to customers on open account): Actual credit sales for March Actual credit sales for April Estimated credit sales for May Estimated collections in the month of sale Estimated collections in the first month after the month of sale Estimated collections in the second month after the month of sale Estimated provision for bad debts (made...
Papst Company is preparing its cash budget for the month of May. The following information is available concerning its accounts receivable (based on sales made to customers on open account): Actual credit sales for March Actual credit sales for April Estimated credit sales for May Estimated collections in the month of sale Estimated collections in the first month after the month of sale stimated collections in the second month after the month of sale Estimated provision for bad debts (made...
The Express Company is preparing its cash budget for the month of June. The following information is available concerning its inventories: Inventories at beginning of June $ 84,500 Estimated purchases of June 364,000 Estimated cost of goods sold for June 371,500 Estimated payments in June for purchases in May 90,250 Estimated payments in June for purchases prior to May49,000 Estimated payments in June for purchases in June 80% What are the estimated cash disbursements for inventories in June? Multiple Choice...
TI-1706SV I1. Problems Sweeny Co. is preparing a cash budget for May. The following forecasted data is available: 1. April May Beginning Loan Balance Sales Merchandise purchases Operating expenses (all paid in cash): Payroll Advertising $36,000 $177,500 132,400 $150,500 $127.000 16,280 7,700 3,500 Rent Additional data: (1) Loan balance at beginning of May is $36,000 (as noted above). Interest due each month is 26 of loan balance. (2) Any cash balance above $40,000 is used to repay as much of...
Cascade, Ltd., a merchandising firm, is preparing its cash budget for March. The following information is available conceming its inventories: Inventories at beginning of March $ 378,750 Estimated purchases for March 1,485, ese Estimated cost of goods sold for March 1,518,750 Estimated payments in March for purchases in February 371,250 Estimated payments in March for purchases prior to 67 SAA February Estimated payments in March for purchases in March sex Required: What are the estimated cash disbursements in March? Estimated...
Cascade, Ltd., a merchandising firm, is preparing its cash budget for March. The following information is available concerning its inventories: 2.5 points $ Skipped Inventories at beginning of March Estimated purchases for March Estimated cost of goods sold for March Estimated payments in March for purchases in February Estimated payments in March for purchases prior to February Estimated payments in March for purchases in March 348,750 1,366,000 1,398,000 343,000 63,000 70% eBook Required: What are the estimated cash disbursements in...
Cash Disbursement Timber Company is in the process of preparing its budget for next year. Cost of goods sold has been estimated at 70 percent of sales. Lumber purchases and payments are to be made during the month preceding the month of sale. Wages are estimated at 15 percent of sales and are paid during the month of sale. Other operating costs amounting to 10 percent of sales are to be paid in the month following the month of sale....
A company is preparing its cash budget for the coming month. All sales are on account. Given the following: Budget Amounts Beginning Balances $230,000 210,000 Cash Accounts Receivable Sales Cash disbursements Depreciation Ending accounts receivable balance $ 950,000 1,080,000 40,000 240,000 What is the expected cash balance of the company at the end of the coming month? (CIA adapted) Multiple Choice 0 $26,300 < Prev 13 of 34 8 Next >
Support Timber Company is in the process of preparing its budget for next year. Cost of goods sold has been estimated at 70 percent of sales. Lumber purchases and payments are to be made during the month preceding the month of sale. Wages are estimated at 15 percent of sales and are paid during the month of sale. Other operating costs amounting to 10 percent of sales are to be paid in the month following the month of sale. Additionally,...
Most questions answered within 3 hours.
-
What is responsible for Jupiter's enormous magnetic field?
asked 13 minutes ago -
At the end of the year, a company offered to buy 5,000 units of
a product...
asked 15 minutes ago -
Implement C++ program for each of the following.
Let D = [-48, -14, -8, 0, 1,...
asked 35 minutes ago -
Consider a labor market in which LD = 400 – 4W and LS = 250 +...
asked 49 minutes ago -
Let’s say you are teaching a typically-developing young child
how to eat with a spoon. Describe...
asked 32 minutes ago -
Ask Your Teacher A toy gun uses a spring to project a 5.6-g soft
rubber sphere...
asked 44 minutes ago -
*****DO NOT ANSWER THIS QUESTION IF YOU DON'T
KNOW*******
Question - PERSONAL DEVELOPMENT ESSAY and Detailed...
asked 51 minutes ago -
A certain rifle bullet has a mass of 5.25 g. Calculate the de
Broglie wavelength of...
asked 1 hour ago -
Research new software products that assist in project
communication management. Write a paper summarizing your findings,...
asked 1 hour ago -
the figure below to the left shows a beaker completely filled
with water. then a block...
asked 1 hour ago -
what is the duistribution channels of HUL in india and how they
distribute?
how is this...
asked 1 hour ago -
Batteries play an important role in our everyday lives. From
making many devices mobile, to allowing...
asked 1 hour ago