M2.1 Week1 dissc

Determine if the following items can be found on a Balance Sheet, cash flow statement, or a budget. *Current value of your investment account. *Spending patterns for the past few months.

When gathering financial information, the entrepreneur should develop a budget that includes expected sales and expense figures for the first year. True or false

Shanice works in finance for a small manufacturing company and is working on next year’s budget. She has been doing research to compare the cost of outsourcing some upcoming jobs versus the cost of purchasing the equipment to keep the jobs in-house. In what step in financial planning is Shanice involved? Multiple Choice developing financial statements for outside investors forecasting short-term financial needs establishing financial controls and tax policy forecasting long-term financial needs

Determine if the following items can be found on a Balance Sheet, cash flow statement, or a budget. *Planned spending pattern for the next month *the cost of your next night of drunken debauchery *Amounts to deposit into savings account

Matthew is concerned about his ability to save money regularly and has prepared a budget. Which of the following budget classifications would be most appropriate for Matthew's budget?   a. Savings as a variable expenditure     b. Savings as a fixed expenditure     c. Saving whatever may be left over     d. Savings withheld from income and deposited directly to savings

I will be conducting and reporting on an interview with my school asst business administrator about the budget process. Please list a series of questions I should be asking when preparing for a school budget. Ty :)

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1.Prepare a tuition revenue budget for the upcoming academic year. 2. Determine the number of faculty members needed to cover classes.

Select each of the terms with the best description of its purpose.            Definitions Terms 1. Planning future business actions and expressing them as formal plans.   2. A comprehensive business plan that includes operating, investing, and financing budgets.   3. Employees who will be evaluated by a budget help prepare it.   4. Shows expected cash inflows and outflows and helps determine financing needs.   5. An approach that requires all expenses to be justified for each new budget.   6. A formal statement of future plans, usually expressed in monetary terms.   7. Approach in which top management passes down a budget without employee input.   8. Management's use of budgets to see that planned objectives are met.

Your friend, Catherine Ross, owns Knockoffs Unlimited, a nationwide distributor of low-cost imitation designer necklaces.   She has contacted you for some assistance because the accounting clerk, George Forrest, recently won a sum of money and decided to resign immediately. Catherine knows that you are completing an accounting course at Cape Breton University and hopes you can prepare the cash budget for the upcoming quarter (April, May and June, 2021).   Catherine has provided you with the budgets completed by George. She has also provided you with additional information that will assist with the completion of the cash budget.   Completed Budgets (April, May, June, and Quarter Total, 2021) please find the required numerical information from the images attached  REQUIRED: Prepare a cash budget . Show the budget by month and in total.  What will be reported on the budgeted balance sheet at June 30, 2021 for accounts receivable? Supporting calculations required to earn available…

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What processes can you use to update and maintain your monthly budget? Personal Fianance

You are constructing an annual operating budget that estimates costs related to the current year's operations. What category would you typically exclude from that operating budget?   A- Operating expenditure   B- Debt payments   C- Capital expenditure   D- Insurance premiums

Having an issue with this problem. Thank you

What budgeting approach requires justification for the inclusion of every activity each year? Briefly describe this method and how it can be effective.

Trevor and Kristen Hill need to prepare a cash budget for the next three months to make sure that they can cover their expenditures during the period. Trevor and Kristen have tracked their finances for the past few years using an app, and thus know what percentage of their take-home pay of $5500 goes for various expenses. Expenses Housing Utilities Food Transportation Medical/dental Contributions Clothing (3% normally; $450 in Month 3) Property Taxes ($1260, Month 2 only) Appliances Personal Care Travel and Entertainment (6%; $1400 in Month 3) Other Savings 29.0% 5.0% 9.5% 6.0% 5.0% 10.5% 3.0% a. 1.0% 2.0% 6.0% 5.0% 7.5% The Hills must maintain a $1500 cash balance to avoid checking fees; however, the balance on March 31, 2021 was $1300. Their savings account balance on March 31 was $20,000. Prepare a quarterly cash budget for Trevor and Kristen for the next three months. b. Using your calculations, show the monthly inflows and outflows and the end-of-month balances for the Hills…

Your friend Sue has asked you to help her out as she is developing her financial plan. Help her come up with a plan for her finances and how she can set herself up for financial success! She has an after tax income of $48,000 and budgets $30,000 for required expenses. This leaves $18,000 to spend on debt and savings annually. (Assume all annuity payments are in the form of ordinary annuities.) Part A: Debt Sue has a current balance of $18,000 on her credit card. She has a minimum monthly payment of $500 and an APR of 18.0% (divide by 12 to get the monthly rate). How many months will it take Sue to pay off her credit card debt? Suppose Sue needs to purchase a car. She believes she can spend $550 a month on a car. She has been approved for a 6.0% loan (divide by 12 for monthly rate) for 48 months. What is the maximum amount she can spend on a car so as not to exceed her $550 a month budget? Part B: Savings Sue would like to save up for a down payment on a home she hopes to purchase in…

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I need help arriving at the following values in the Budgeted Balance Sheet: Prepaid Insurance  Property and Equipment, net   Thank You!

A company has completed the operating budget and the cash budget. It is now preparing the budgeted balance sheet. Please use the below image as your guide for the next 5 questions. Identify the document that contains cash balance.*         A       B       C       D       E