How much will Celine Dion need to borrow during October ? CelineDion Ltd. provided the followinginformation for the month of October:. Beginning cash balance: $45,000. Cash receipts: $480,000..Cash disbursements: $520,000Celine Dion's policy is to maintain a minimumend-of-the-month cash balance of $35,000How much will Celine Dion need to borrowduring October?

To determine how much Celine Dion Ltd. will need to borrow during October, we can follow these…

Answered: Celine Dion Ltd. provided the following…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 10EB: My Aunts Closet Store collects 60% of its accounts receivable in the month of sale and 35% in the...

See similar textbooks

Similar questions

Nonnas Re-Appliance Store collects 55% of its accounts receivable in the month of sale and 40% in the month after the sale. Given the following sales, how much cash will be collected in February?
How much will Cypress need to borrow during December?
How much will cypress need to borrow during December?
How much will cedarwood need to borrow during November?
??
Help me please
How would I calculate cash receipts and accounts receivable balance? Sequoia Furniture Company's sales over the past three months, half of which are for cash, were as follows: March $400,000 April $650,000 May $520,000 Assume that Sequoia's collection period is 60 days. What would be its cash receipt in May? What would be its account receivable balance at the end of May?
Ind
f) The Cathy Specialist Corporation approached you to compile a cash disbursement schedule for the month of March, April and May. Use the following information. Sales: January-RMS20,000; February-RM540,000; March-RM550,000; April=RM600,000; May-RM660,000; June-RM670,000. Purchases: Purchases are calculated as 70% of the following month's sales, 50% of purchase are made in cash, 30% of purchases are settled one month after purchase, and the remaining 20% of purchase are settled two months after purchase. c) d) e) g) h) the firm's expected cash receipts for a) b) Rent: The firm pays rent of RM9,500 per month. Wages & salaries: the fixed wage and salary costs are RM7,500 per month plus a variable cost of 6.5% of the current month's sales. Taxes: the tax bill to be paid in May amount to RM57,500. Fixed asset outlay: new equipment will be acquired during March at a cost of RM85,000. Interest payment: an amount of RM32,000 for interest is due in March. Cash Dividend: Dividends of RM15,000…
A. What are the expected revenues for S2BU for each month, April through September? Revenues are recorded in the month of the occasion. B. What are the expected cash receipts for each month, April through July?
Marlin Company projects the follwoing sales for the first thre months of the year: $11500 in January; $10100 in February and $10400 in March. the company expects 60% of the sales to be cash and the remainder on accounts. Sales on account are collected 50% in the month of the sale and 50% in the following month. The Account Receivable account has a zero on January. 1. Prepare a schedule of cash receipts for Marlin for January, February and March. What is the balance in Accounts Receivable on March 31? 2. Prepare a revised schedule of cash receipts if receipts from sales on account are 70% in the month of the sale, 20% in the following month of the sale and 10% in the second month of the sale. What is the balance in Accounts Receivable on March 31?
16. Candy Company projects the following sales: BB (Click on the icon to view the projected sales.) Candy collects sales on account in the month after the sale. The Accounts Receivable balance on January 1 is $12,300, which represents December's sales on account. Candy projects the following cash receipts from customers: BEE (Click on the icon to view the cash receipts from customers.) Recalculate cash receipts from customers if total sales remain the same but cash sales are only 5% of the total. Begin by computing the cash sales and sales on account for each month if cash sales are only 5% of the total. January February March Cash sales (5%) Sales on account (95%) Total sales $ 31,000 $ 27,000 $ 33,000 Data table X I Data table - X January February March January February March Cash sales (10%) $ 3,100 $ 27,900 Sales on account (90%) 2,700 $ 24,300 3,300 29,700 Cash receipts from cash sales Cash receipts from sales on account $ 3,100 $ 2,700 $ 12,300 27,900 3,300 24,300 $ 31,000 $…

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

SEE MORE TEXTBOOKS