Directions. Read and analyse the given data. Answer the questions below on a separatesheet of paper.The January 31. 202x Statement of Financial Position of Shelpat Corporation follows:Cash8,000Accounts receivable (net of allowance for uncollectibleAccounts of P2,000)38,00016,000InventoryProperty, plant and equipment (net of allowance forAccumulated depreciation of P60,000)40 000P. 102,000Total AssetsAdditional information:• Sales are budgeted as follows:FebruaryP110,000120 000March• Collections are expected to be 60% in the month of sale. 38% the nextmonth and 2 % uncollectible.• The gross margin is 25% of sales. Purchases each month are 75% of thenext month's projected sales. The purchases are paid in full the followingmonth.• Other expenses for each month, paid in cash, are expected to be P16,500.Depreciation each month is P5,000.1. What are the budgeted cash collections for February 202x?P101,800P104,000P63,800P66,000a.с.b.d.2. What is the pro-forma income (loss) before income taxes for February 202x?P(3,700)P(1,500)P3,800P6,000а.с.b.d.

Jan Financial information Cash 8,000 Account receivable 40,000…

Answered: 1. What are the budgeted cash…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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4 80152:10 Mc Graw Hill Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget. a. Beginning cash balance on June 1, $94,700. b. Cash receipts from sales, $416,500. c. Budgeted cash payments for purchases, $271,500. d. Budgeted cash payments for salaries, $95,700. e. Other budgeted cash expenses, $57,700. f. Cash repayment of bank loan, $32,700. g. Budgeted depreciation expense, $34,700. Multiple Choice $53,600. $18,900. $86,300. Q Search
Master P Companies CASH BUDGET Company A Company B Company C Beginning cash balance P100 P300 P700 Cash collections ? 400 ? Cash disbursements 500 ? 600 Cash excess (shortage) ? ? 400 Borrowing (repayments) 300 100 Ending cash 200 200 100 1. Refer to Master P Companies. For Company A, what are the budgeted cash collections? 2. Refer to Master P Companies. For Company B, what are the budgeted cash disbursements? 3. Refer to Master P Companies. For Company C, what are the budgeted cash collections?
Aurora Company manufactures and sells two models of watches, Polar and Universe. It expects to sell 3,250 units of Polar and 1,750 units of Universe in 2022. The following estimates are given for 2022: Polar Universe $500 $200 Selling price Direct materials 30 70 Direct labor 50 190 Manufacturing overhead 60 130 Aurora had an inventory of 300 units of Polar and 115 units of Universe at the end of 2021. It has decided that as a measure to counter stock outages it will maintain ending inventory of 400 units of Polar and 250 units of Universe. Each Universe watch requires two unit of CR01 and has to be imported at a cost of $15. There were 150 units of CR01 in stock at the end of 2021.The management does not want to have any stock of CR01 at the end of 2022. What is the amount budgeted for purchase of CR01 in 2022?
The general ledger of the County of Konstantin contains the following selected account balances: $91400 $35600 $16500 $5700 Appropriations Outstanding Encumbrances Expenditures Vouchers Payable Konstantin wants to order additional goods and services before the fiscal year end. What is the unencumbered balance (i.e., the remaining authority) of the budget that may be expended by Konstantin? BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000.
Use the information provided below to prepare the following for January and February 2023: 4.1 Debtors Collection Schedule 4.2 Cash Budget INFORMATIONThe following information was provided by Intel Enterprises:1. The bank balance on 31 December 2022 is expected to be R40 000 (unfavourable).2. Credit sales are expected to be as follows: December 2022 January 2023 February 2023 R576 000 R540 000 R648 000 3. Credit sales usually make up 40% of the total sales. Cash sales make up the balance. Cash customersreceive a 10% discount.4. Credit sales are normally collected as follows:* 30% in the month in which the transaction takes place, and these customers are entitled to a 5% discount.* 65% in the following monthThe rest is usually written off as bad debts.5. Budgeted purchases of inventory are as follows: December 2022 January 2023 February 2023 R1 000 000 R800 000 R920 000 6. Fifty percent (50%) of the purchases are for cash. The remainder is paid in the month after the…
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REQUIRED Use the information provided below to prepare the following for March and April 2024: 4.1 Debtors Collection Schedule 4.2 Cash Budget INFORMATION The following information was provided by BN Traders: 1. The bank balance on 28 February 2024 is expected to be R100 000 (unfavourable). The sales figures for the first four months of 2024 are expected to be as follows: 2 January March R1 500 000 R1 000 000 3. 4. 4.1 4.2 5. 6. 7. 8. 9. February R1 100 000 Cash sales usually make up 30% of the total sales. The balance of the sales is on credit. (Separate entries are required for cash sales and collections from credit sales.) Credit sales are normally collected as follows: 30% in the month of the sale, and these debtors are entitled to a 3% discount 65% in the month after the sale The rest is usually written off as bad debts. Purchases from February to April 2024 are expected to be as follows: February March R320 000 R350 000 Cash purchases Credit purchases April R1 200 000 R360 000…
am. 119.
1. What is the budgeted cash collections for the month of October?2. What is the budgeted purchases during October?3. What is the budgeted gross profit for the month of October? DANK, INC.Balance SheetSeptember 30, 2015 Assets Cash P 416,000Accounts receivable, net 1,200,000 Merchandise inventory 2,520,000 Non-current assets 8,000,000Total assets P 12,136,000 Liabilities and Equity Accounts payable P 1,400,000Capital stock 7,200,000Retained earnings 3,536,000Total liabilities and Stockholders’ equity P 12,136,000 Additional information:• Budgeted sales for October is P 4,160,000; for November, P 4,000,000• Gross profit rate is 20%• Of the total sales, 40% is on credit which the company collects in the month following the monthof sale.• Purchases in each month are composed of:80% of the coming month’s requirement20% of the current month’s requirement• Purchases are paid for in the month following the month of purchase
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1. What are the budgeted cash collections for February 202x? P101,800 P63,800 P66,000 a. с. b. d. P104,000 2. What is the pro-forma income (loss) before income taxes for February 202x? P(3,700) P(1,500) P3,800 P6,000 а. C. b. d.