Corp. Is working on its cash budget for March.The budgeted beginning cash balance is $26,000.budgeted cash receipts total $198,000 and budgeted cash disbursements total $197,000.The desired ending cash balance is $45,000.Q) Theexcess (deficiency) of cash available over disbursements for March will be:Multiple Cholce$25,000$1,000$27,000$224,000

Budget refers to the statement prepared by the government, individuals, and organizations by making…

Answered: Corp. is working on its cash budget for…

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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I need the working solution for the cash balance at the beginning month. Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $130,000 $156,000 $205,000 Manufacturing costs 55,000 67,000 74,000 Selling and administrative expenses 46,000 47,000 78,000 Capital expenditures _ _ 49,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent $10,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in January, and the annual property taxes are paid in December. Of the remainder of the manufacturing costs, 80% are expected to be paid…
Please help me with show all calculation thanku
The subject is Managerial Accounting
Gadubhai
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Edelmar Corp. has prepared a preliminary cash budget for the third quarter as shown below: Cash Budget Beginning cash balance Plus: Cash collections Cash available Less: Cash payments: Purchases of direct materials July $36,000 $56,000 92,000 Operating expenses Capital expenditures Ending cash balance Aug $17,000 $52,000 $69,000 34,000 41,000 0 $17,000 Subsequently, the marketing department revised its figures for cash collections. New data are as follows: $54,000 in July, $55,000 in August, and $44,000 in September. Based on the new data, calculate the new projected cash balance at the end of July Sep $21,500 47,800 $69,300 9,000 30,500 8,000 $21,500 10,000 30,800 7,700 $20,800
Bustillo Incorporated is working on its cash budget for March. The budgeted beginning cash balance is $36,000. Budgeted cash receipts total $117,000 and budgeted cash disbursements total $111,000. The desired ending cash balance is $53,500. To attain its desired ending cash balance for March, the company needs to borrow: Multiple Choice $95,500 $11,500 $0 $53,500
Cash budget. The budgeted beginning cash balance is $20,000, budgeted cash receipts total $100,000 and budgeted cash disbursements total $110,000. The desired ending cash balance is $30,000. How much the company needs to borrow
The following information was used by the Long Corporation to prepare a cash budget for April: Cash balance beginning of April $ 16,000 Expected cash receipts in April 272,000 Sales salaries paid 62,000 Material purchases (all cash) 94,000 Depreciation charges 44,000 Other expenses (all cash) 96,000 What is the budgeted ending cash balance in April? Multiple Choice None of these. $36,000 $45,000 $22,000 $ (8,000)
Garden Depot is a retailer that provided the following budgeted cash flows for next year: 1st Quarter 2nd Quarter 3rd Quarter 4th QuarterTotal cash receipts $ 290,000 $ 410,000 $ 340,000 $ 360,000Total cash disbursements $ 351,000 $ 321,000 $ 311,000 $ 331,000The company’s beginning cash balance for next year will be $47,000. The company requires a minimum cash balance of $10,000 and may borrow money at the beginning of any quarter and may repay any part of its loans at the end of any quarter. Interest payments, based on a quarterly interest rate of 3%, are due on any principal at the time it is repaid. For simplicity, assume interest is not compounded. Required:Prepare the company’s cash budget for next year.
Bries Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $19,400. Budgeted cash receipts total $190,000 and budgeted cash disbursements total $190,800. The desired ending cash balance is $31,400. To attain its desired ending cash balance for January, the company should borrow: Multiple Cholce $12,800 $50,000 $31,400 $0
Deschambault Inc. is working on its cash budget for December. The budgeted beginning cash balance is $14,000. Budgeted cash receipts total $127,000 and budgeted cash disbursements total $126,000. The desired ending cash balance is $40,000. To attain its desired ending cash balance for December, the company needs to borrow: A. $40,000 B. $55,000 C. $25,000 D. $0

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