20A company is preparing its cash budget. Its cash balance on January 1 is $290,000 and...
20A company is preparing its cash budget. Its cash balance on January 1 is $290,000 and it has a minimum cash requirement of $340,000. The following data has been provided: January February March Cash receipts $1,061,200 $1,182,400 $1,091,700 Cash payments 984,500 1,210,000 1,075,000 What is the amount of cash excess or deficiency (after considering the minimum cash balance required) for February?a.deficiency of $900b.deficiency of $109,100c.excess of $109,100d.excess of $10,900
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20A company is preparing its cash budget. Its cash balance on
January 1 is $290,000 and...
A company is preparing its cash budget. Its cash balance on January 1 is $290,000 and...
A company is preparing its cash budget. Its cash balance on January 1 is $290,000 and it has a minimum cash requirement of $340,000. The following data has been provided: Cash receipts January $1,061,200 984,500 February $1,182,400 1,210,000 March $1,091,700 1,075,000 Cash payments What is the amount of cash excess or deficiency (after considering the minimum cash balance required) for March? a. excess of $15,800 Ob. deficiency of $60,000 Oc. excess of $25,300 Od. excess of $214,200
Hopp Company requires a minimum cash balance of $3,100. When the company expects a cash deficiency,...
Hopp Company requires a minimum cash balance of $3,100. When the company expects a cash deficiency, it borrows the exact amount required on the first of the month. Expected excess cash is used to repay any amounts owed. Interest owed from the previous month's principal balance is paid on the first of the month at 17% per year. The company has already completed the budgeting process for the first quarter for cash receipts and cash payments for all expenses except...
Hex Company requires a minimum cash balance of $3,500. When the company expects a cash deficiency,...
Hex Company requires a minimum cash balance of $3,500. When the company expects a cash deficiency, it borrows the exact amount required on the first of the month. Expected excess cash is used to repay any amounts owed. Interest owed from the previous month's principal balance is paid on the first of the month at 14% per year. The company has already completed the budgeting process for the first quarter for cash receipts and cash payments for all expenses except...
Yosko has $14,500 in cash on hand on January 1 and has collected the following budget...
Yosko has $14,500 in cash on hand on January 1 and has collected the following budget data: (Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yosko has cash payments for selling and administrative expenses including salaries of $55,000 per month plus commissions that are 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $15,000....
Harley Company requires a minimum cash balance of $5,000. When the company expects a cash deficiency,...
Harley Company requires a minimum cash balance of $5,000. When the company expects a cash deficiency, it borrows the exact amount required on the first of the month. Expected excess cash is used to repay any amounts owed. Interest owed from the previous month's principal balance is paid on the first of the month at 12% per year. The company has already completed the budgeting process for the first quarter for cash receipts and cash payments for all expenses except...
Complete a cash budget for Graham Company for January, February, and March. (Complete all answer boxes....
Complete a cash budget for Graham Company for
January, February, and March. (Complete
all answer boxes. Enter a "0" for any zero balances. Round all
amounts entered into the cash budget to the nearest whole dollar.
Enter a cash deficiency with a minus sign or parentheses.)
CAN SOMEONE HELP ME PLS?? I NEED THE ANSWER FOR THREE MONTHS
January, February, and March.
i Reference Cash Receipts from Customers Total sales January February March $ 15,800 $ 12,200 $ 10,500||$ January...
Company has $ 13500 in cash on hand on January 1 and has collected the following...
Company has $ 13500 in cash on hand on January 1 and has
collected the following budget data: Assume Hess has cash payments
for selling and administrative expenses including salaries of $
55000 plus commissions of 2% of sales, all paid in the month of
sale. The company requires a minimum cash balance of $ 11000.
Prepare a cash budget for January and February. Will Hess need to
borrow cash by the end of February? Begin by preparing the cash...
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management...
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter 2nd Quarter $ 290,000 $ 410,000 $ 351,000 $ 321,000 3rd Quarter $ 340,000 $ 311,000 4th Quarter $360,000 $ 331,000 The company's beginning cash balance for the upcoming fiscal year will be $47,000. The company requires a minimum cash balance of $10,000 and may borrow...
A) Prepare Drew Consulting's cash budget for January AND February B) How much cash will Drew...
A) Prepare Drew Consulting's cash budget for January
AND February
B) How much cash will Drew borrow in February if cash receipts
from customers that month total $39,000 instead of $49,000
Assume Drew Consulting began January with $15,000 cash. Management forecasts that cash receipts from credit customers will be $48,000 in January and $49,000 in February. Projected cash payments include equipment purchases ($18,000 in January and $41,000 in February) and selling and administrative expenses ($3,000 each month). Drew's bank requires...
Zolezzi Inc. is preparing its cash budget for March. The budgeted beginning cash balance is $20,000....
Zolezzi Inc. is preparing its cash budget for March. The budgeted beginning cash balance is $20,000. Budgeted cash receipts total $111,000 and budgeted cash disbursements total $92,000. The desired ending cash balance is $50,000. The company can borrow up to $80,000 at any time from a local bank, with interest not due until the following month. Required: Prepare the company's cash budget for March in good form. Make sure to indicate what borrowing, if any, would be needed to attain...
A company is preparing its cash budget. Its cash balance on January 1 is $290,000 and it has a minimum cash requirement of $340,000. The following data has been provided: Cash receipts January $1,061,200 984,500 February $1,182,400 1,210,000 March $1,091,700 1,075,000 Cash payments What is the amount of cash excess or deficiency (after considering the minimum cash balance required) for March? a. excess of $15,800 Ob. deficiency of $60,000 Oc. excess of $25,300 Od. excess of $214,200
Hex Company requires a minimum cash balance of $3,500. When the company expects a cash deficiency, it borrows the exact amount required on the first of the month. Expected excess cash is used to repay any amounts owed. Interest owed from the previous month's principal balance is paid on the first of the month at 14% per year. The company has already completed the budgeting process for the first quarter for cash receipts and cash payments for all expenses except...
Yosko has $14,500 in cash on hand on January 1 and has collected the following budget data: (Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yosko has cash payments for selling and administrative expenses including salaries of $55,000 per month plus commissions that are 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $15,000....
Harley Company requires a minimum cash balance of $5,000. When the company expects a cash deficiency, it borrows the exact amount required on the first of the month. Expected excess cash is used to repay any amounts owed. Interest owed from the previous month's principal balance is paid on the first of the month at 12% per year. The company has already completed the budgeting process for the first quarter for cash receipts and cash payments for all expenses except...
Complete a cash budget for Graham Company for
January, February, and March. (Complete
all answer boxes. Enter a "0" for any zero balances. Round all
amounts entered into the cash budget to the nearest whole dollar.
Enter a cash deficiency with a minus sign or parentheses.)
CAN SOMEONE HELP ME PLS?? I NEED THE ANSWER FOR THREE MONTHS
January, February, and March.
i Reference Cash Receipts from Customers Total sales January February March $ 15,800 $ 12,200 $ 10,500||$ January...
Company has $ 13500 in cash on hand on January 1 and has
collected the following budget data: Assume Hess has cash payments
for selling and administrative expenses including salaries of $
55000 plus commissions of 2% of sales, all paid in the month of
sale. The company requires a minimum cash balance of $ 11000.
Prepare a cash budget for January and February. Will Hess need to
borrow cash by the end of February? Begin by preparing the cash...
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter 2nd Quarter $ 290,000 $ 410,000 $ 351,000 $ 321,000 3rd Quarter $ 340,000 $ 311,000 4th Quarter $360,000 $ 331,000 The company's beginning cash balance for the upcoming fiscal year will be $47,000. The company requires a minimum cash balance of $10,000 and may borrow...
A) Prepare Drew Consulting's cash budget for January
AND February
B) How much cash will Drew borrow in February if cash receipts
from customers that month total $39,000 instead of $49,000
Assume Drew Consulting began January with $15,000 cash. Management forecasts that cash receipts from credit customers will be $48,000 in January and $49,000 in February. Projected cash payments include equipment purchases ($18,000 in January and $41,000 in February) and selling and administrative expenses ($3,000 each month). Drew's bank requires...
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