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Fortner Manufacturing has a cash balance of $8,000 on August 1 of the current year. The company's controller forecast t...
Fortner Manufacturing has a cash balance of $11,000 on August 1 of the current year. The...
Fortner Manufacturing has a cash balance of $11,000 on August 1 of the current year. The company's controller forecast the following cash receipts and cash disbursements for the upcoming two months of activity: Cash Receipts $55,000 77,000 Cash Payments $71,000 66,000 August September Management desires to maintain a minimum cash balance of $11,000 at all times. If necessary, additional financing can be obtained in $1,000 multiples at a 12% interest rate. All borrowings are made at the beginning of the...
Please help. All one question. Thanks. Fortner Manufacturing has a cash balance of $8,000 on August...
Please help. All one question. Thanks.
Fortner Manufacturing has a cash balance of $8,000 on August 1 of the current year. The company's controller forecast the following cash receipts and cash disbursements for the upcoming two months of activity: Cash Receipts $47,000 70,000 Cash Payments $60,000 58,000 August September Management desires to maintain a minimum cash balance of $8,000 at all times. If necessary, additional financing can be obtained in $1,000 multiples at a 12% interest rate. All borrowings are...
Please help with part A and B. Please explain, I do not understand. Thank you! Fortner...
Please help with part A and B. Please explain, I do not
understand. Thank you!
Fortner Manufacturing has a cash balance of $10,000 on August 1 of the current year. The company's controller forecast the following cash receipts and cash disbursements for the upcoming two months of activity: Cash Cash Receipts $49,000 74,000 Payments $62,000 60,000 August September Management desires to maintain a minimum cash balance of $10,000 at all times. If necessary, additional financing can be obtained in $1,000...
Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1%...
Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,400, and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. Cash receipts Cash payments July $20,000 28,000 August $26,000 30,000 September $40,000 22,000 Prepare...
Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1%...
Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,400, and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow August $26,000 30,000 September $40,000 22,000 July $20,000 28,000 Cash receipts Cash payments s0...
please do all of them Check my work Karim Corp. requires a minimum $8,000 cash balance....
please do all of them
Check my work Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,400, and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. 0.66 points Cash receipts Cash payments...
Southland Company is preparing a cash budget for August. The company has $16,000 cash at the begi...
Southland Company is preparing a cash budget for August. The company has $16,000 cash at the beginning of August and anticipates $124,800 in cash receipts and $133,500 in cash disbursements during August. Southland Company wants to maintain a minimum cash balance of $10,000. The preliminary cash balance at the end of August before any loan activity is: Multiple Choice 1:05 $17,300. $140,800 ($8.700). $7,300
ABC Company has a cash balance of $37,000 on August 1 and requires a minimum ending cash balance of $24,160. Cash receip...
ABC Company has a cash balance of $37,000 on August 1 and
requires a minimum ending cash balance of $24,160. Cash receipts
from sales budgeted for August are $200,160. Cash disbursements
budgeted for August include inventory purchases, $29,000; other
manufacturing expenses, $55,000; operating expenses, $40,000; bond
retirements, $62,000; and dividend payments, $27,000.
Required:
Prepare a cash budget for ABC Company for August.
August Beginning cash balance Cash Receipts: Total cash available Cash Disbursements: Total cash disbursements Ending cash balance
Karim Corp. requires a minimum $8,300 cash balance. If necessary, loans are taken to meet this...
Karim Corp. requires a minimum $8,300 cash balance. If necessary, loans are taken to meet this requirement at a cost of 2% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,700 and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow July Cash receipts Cash payments August September $40,300...
Exercise 20-20 Cash budget LO P2 Karim Corp. requires a minimum $8,600 cash balance. If necessary,...
Exercise 20-20 Cash budget LO P2 Karim Corp. requires a minimum $8,600 cash balance. If necessary, loans are taken to meet this requirement at a cost of 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $9,000 and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. Cash receipts...
Fortner Manufacturing has a cash balance of $11,000 on August 1 of the current year. The company's controller forecast the following cash receipts and cash disbursements for the upcoming two months of activity: Cash Receipts $55,000 77,000 Cash Payments $71,000 66,000 August September Management desires to maintain a minimum cash balance of $11,000 at all times. If necessary, additional financing can be obtained in $1,000 multiples at a 12% interest rate. All borrowings are made at the beginning of the...
Please help. All one question. Thanks.
Fortner Manufacturing has a cash balance of $8,000 on August 1 of the current year. The company's controller forecast the following cash receipts and cash disbursements for the upcoming two months of activity: Cash Receipts $47,000 70,000 Cash Payments $60,000 58,000 August September Management desires to maintain a minimum cash balance of $8,000 at all times. If necessary, additional financing can be obtained in $1,000 multiples at a 12% interest rate. All borrowings are...
Please help with part A and B. Please explain, I do not
understand. Thank you!
Fortner Manufacturing has a cash balance of $10,000 on August 1 of the current year. The company's controller forecast the following cash receipts and cash disbursements for the upcoming two months of activity: Cash Cash Receipts $49,000 74,000 Payments $62,000 60,000 August September Management desires to maintain a minimum cash balance of $10,000 at all times. If necessary, additional financing can be obtained in $1,000...
Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,400, and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. Cash receipts Cash payments July $20,000 28,000 August $26,000 30,000 September $40,000 22,000 Prepare...
Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,400, and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow August $26,000 30,000 September $40,000 22,000 July $20,000 28,000 Cash receipts Cash payments s0...
please do all of them
Check my work Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,400, and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. 0.66 points Cash receipts Cash payments...
Southland Company is preparing a cash budget for August. The company has $16,000 cash at the beginning of August and anticipates $124,800 in cash receipts and $133,500 in cash disbursements during August. Southland Company wants to maintain a minimum cash balance of $10,000. The preliminary cash balance at the end of August before any loan activity is: Multiple Choice 1:05 $17,300. $140,800 ($8.700). $7,300
ABC Company has a cash balance of $37,000 on August 1 and
requires a minimum ending cash balance of $24,160. Cash receipts
from sales budgeted for August are $200,160. Cash disbursements
budgeted for August include inventory purchases, $29,000; other
manufacturing expenses, $55,000; operating expenses, $40,000; bond
retirements, $62,000; and dividend payments, $27,000.
Required:
Prepare a cash budget for ABC Company for August.
August Beginning cash balance Cash Receipts: Total cash available Cash Disbursements: Total cash disbursements Ending cash balance
Karim Corp. requires a minimum $8,300 cash balance. If necessary, loans are taken to meet this requirement at a cost of 2% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,700 and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow July Cash receipts Cash payments August September $40,300...
Exercise 20-20 Cash budget LO P2 Karim Corp. requires a minimum $8,600 cash balance. If necessary, loans are taken to meet this requirement at a cost of 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $9,000 and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. Cash receipts...
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