B. GreenHarxest has prepared a Cash Budget for JANUARY, shown below(GreenHarvest cash balance as at 31st December 2019 is $26,500)Green Harxest Pty LtdCash BudgetFor the period ending January 2020Jan ($)ANTICIPATED RECEIPTSFees (cash)140,000Receipt of Loan50,000Receipt from accounts receivable45,000Proceeds from sale of surplus NCADividends ReceivedTotal receipts| ANTICIPATED PAYMENTSSalaries and wages20,0005,000260,00070,000Administration1,000SuppliesPayment to accounts payableNew equipment8,5006,000175,000Plants42,000Total PaymentsExcess (Deficit) receipts over paymentsRequired:302,500(42,500)With reference to the Cash Budget shown above; provide GreenHarvest's.management with the cashbalance amount at the end of January. Indicate whether this is an acceptable situation. Further make three (3)suggestions that may help GreenHarxest to improve their cash position+

Budget refers to the statement prepared by the government, individual, and organization based on the…

B. GreenHarvest has prepared a Cash Budget for JANUARY, shown below (* (GreenHarxest cash balance as at 31ª December 2019 is $26,500) GreenHarxest Pty Ltd Cash Budget For the period ending January 2020 Jan ($) ANTICIPATED RECEIPTS Fees (cash) Receipt of Loan Receipt from accounts receivable Proceeds from sale of surplus NCA 140,000 50,000 45,000 20,000 Dividends Received 5,000 Total receipts 260,000 ΑΝΤICIPΑTED PAYΜΕNTS Salaries and wages 70,000 1,000 Administration Supplies Payment to accounts payable New equipment 8,500 6,000 175,000 Plants 42,000 302,500 Total Payments Excess (Deficit) receipts over payments Required: (42,500) With reference to the Cash Budget shown above; provide GreenHarvest's management with the cash balance amount at the end of January. Indicate whether this is an acceptable situation. Further make three (3) suggestions that may help GreenHaryest to improve their cash position

B. GreenHarvest has prepared a Cash Budget for JANUARY, shown below (* (GreenHarxest cash balance as at 31ª December 2019 is $26,500) GreenHarxest Pty Ltd Cash Budget For the period ending January 2020 Jan ($) ANTICIPATED RECEIPTS Fees (cash) Receipt of Loan Receipt from accounts receivable Proceeds from sale of surplus NCA 140,000 50,000 45,000 20,000 Dividends Received 5,000 Total receipts 260,000 ΑΝΤICIPΑTED PAYΜΕNTS Salaries and wages 70,000 1,000 Administration Supplies Payment to accounts payable New equipment 8,500 6,000 175,000 Plants 42,000 302,500 Total Payments Excess (Deficit) receipts over payments Required: (42,500) With reference to the Cash Budget shown above; provide GreenHarvest's management with the cash balance amount at the end of January. Indicate whether this is an acceptable situation. Further make three (3) suggestions that may help GreenHaryest to improve their cash position

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. Cash Receipts Cash payments January February March $ 519,000 409,000 476,000 $ 459,200 349,200 532,000 Kayak requires a minimum cash balance of $30,000 at each month-end. Loans taken to meet this requirement charge 1%, interest per month, paid at each month-end. The interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $30,000 is used to repay loans at month-end. The company has a cash balance of $30,000 and a loan balance of $60,000 at January 1. Prepare monthly cash budgets for January, February, and March. Note: Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Beginning cash balance Add: Cash receipts Total cash available Less: Cash payments for Interest on loan…
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not graded... please help Prepare Cash Budget from Budgeted Transactions Prepare a cash budget for the month ended May 31, 2019. Campton Company anticipates a cash balance of $74,000 on May 1, 2019. The following budgeted transactions for May 2019 present data related to anticipated cash receipts and cash disbursements: 1. For May, budgeted cash sales are $50,000 and budgeted credit sales are $490,000. (Credit sales for April were $450,000.) In the month of sale, 40% of credit sales are collected, with the balance collected in the month following sale. 2. Budgeted merchandise purchases for May are $270,000. (Merchandise purchases in April were $240,000.) In the month of purchase, 70% of merchandise purchases are paid for, and the balance is paid for in the following month. 3. Budgeted cash disbursements for salaries and operating expenses for May total $155,000. 4. During May, $25,000 of principal repayment and $4,000 of interest payment are due to the bank. 5. A $20,000 income…
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