Homework Answers
| Cash Budget- Blue Corporation | |
| Particulars | Amount |
| Beginning Cash Balance (a) | $38,460.00 |
| Add: Receipts | |
| Collection From Customers | $237,170.00 |
| Sale Of Equipment | $3,846.00 |
| Total Receipts (b) | $241,016.00 |
| Total Available Cash (c=a+b) | $279,476.00 |
| Less: Disbursements | |
| Direct Material | $55,126.00 |
| Direct Labour | $89,740.00 |
| Manufacturing Overhead | $44,870.00 |
| Selling And Adminitrative Overhead | $57,690.00 |
| Purchase Of Securities | $17,948.00 |
| Total Disbursements (d) | $265,374.00 |
| Excess Of Available Cash Over Disbursements (e=c-d) | $14,102.00 |
| Financing | |
| Add: Borrowing (f-e) | $17,948.00 |
| Less: Repayments | $0.00 |
| Ending Cash Balance (f) | $32,050.00 |
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Exercise 13-15 Blue Corporation is projecting a cash balance of $38,460 in its December 31, 2016, balance sheet. Blue's...
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Exercise 21-15
Deitz Corporation is projecting a cash balance of $36,960 in its
December 31, 2016, balance sheet. Deitz’s schedule of expected
collections from customers for the first quarter of 2017 shows
total collections of $227,920. The schedule of expected payments
for direct materials for the first quarter of 2017 shows total
payments of $52,976. Other information gathered for the first
quarter of 2017 is sale of equipment $3,696; direct labor $86,240,
manufacturing overhead $43,120, selling and administrative expenses
$55,440;...
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Exercise 21-15
Deitz Corporation is projecting a cash balance of $36,960 in its
December 31, 2016, balance sheet. Deitz’s schedule of expected
collections from customers for the first quarter of 2017 shows
total collections of $227,920. The schedule of expected payments
for direct materials for the first quarter of 2017 shows total
payments of $52,976. Other information gathered for the first
quarter of 2017 is sale of equipment $3,696; direct labor $86,240,
manufacturing overhead $43,120, selling and administrative expenses
$55,440;...
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quarter of 2017. The next step in the budgeting process is to
prepare a cash receipts schedule and a cash payments schedule. To
that end the following information has been collected.
Clients usually pay 60% of their fee in the month that service is
performed, 30% the month after, and 10% the second month after
receiving service.
Actual service revenue for 2016 and expected service revenues for
2017 are November...
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