For January, Bethany DeWeese had cash inflows of $4,200 and cash outflows of $4,750, resulting in a: a. balanced budget b. surplus of $550 c. deficit of $550 d. surplus of $8,950 e. deficit of $4,750
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- 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, $95,000. b. Cash receipts from sales, $418,000. c. Budgeted cash payments for purchases, $273,000. d. Budgeted cash payments for salaries, $96,000. e. Other budgeted cash expenses, $58,000. f. Cash repayment of bank loan, $33,000. g. Budgeted depreciation expense, $35,000. Multiple Choice $86,000. $18,000. $11,000. $76,000.Prepare a master budget for the three-month period ending June 30 that includes a cash budget. Show the budget by month and in total. Determine any borrowing that would be needed to maintain the minimum cash balance of $68,000. (Cash deficiency, repayments and interest should be indicated by a minus sign.)ABC Company seeks your assistance in developing cash and other budget information for August, September,and October, 201A. On July 31, 201A, the company had cash of P22,000, accounts receivable of P874,000,inventories of P618,800, and accounts payable of P266,110.The budget is based on the following assumptions:a. Sales1. Sixty percent (60%) of the billings are collected within the month of sale, 25% are collected in the firstmonth after the month of sale, 10% are collected in the second month after the month of sale, and5% are proved uncollectible.b. Purchases1. Sixty-five percent (65%) of all purchases of materials and selling and administrative expenses are paidin the month purchased and the remainder in the following month.2. Each month’s units of ending inventory are equal to 120% of the next month’s units of sales.3. The cost of each unit of inventory is P20.00.4. Selling and administrative expenses are equal to 20% of the current month’s sales.Actual and projected sales are as…
- The accountant for Baird's Dress Shop prepared the following cash budget. Baird's desires to maintain a cash balance of $24,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 1 percent per month. Required a. Complete the cash budget by filling in the missing amounts. b. Determine the amount of net cash flows from operating activities Baird's will report on the third quarter pro forma statement of cash flows. c. Determine the amount of net cash flows from financing activities Baird's will report on the third quarter pro forma statement of cash flows. Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the cash budget by filling in the missing amounts. Note: Any shortages or repayments should be indicated with a minus sign. Round your answers to the nearest whole dollar amount. Cash Budget July August September Section 1: Cash receipts Beginning cash balance…The following information is available for Sunland Company for the month of January: expected cash receipts $58,360; expected cash disbursements $66,210; and cash balance on January 1, $11,630. Management wishes to maintain a minimum cash balance of $8,030. Prepare a basic cash budget for the month of January. SUNLAND COMPANY Cash Budget For the Month of JanuaryKayak Co. budgeted the following cash recelpts (excluding cash recelpts from loans recelved) and cash payments (excluding cash payments for loan principal and Interest payments) for the first three months of next year. Cash Cash Receipts $519,eee payments $464,7ee 358, 208 524, еее January February 412,5ee March 464,eee According to a credlt agreement with Its bank, Kayak requires a minimum cash balance of $40,000 at each month-end. In return, the bank has agreed that the company can borrow up to $140,000 at a monthly Interest rate of 1% , pald on the last day of each month. The interest is computed based on the beginning balance of the loan for the month. The company repays loan principal with any cash In excess of $40,000 on the last day of each month. The company has a cash balance of $40,000 and a loan balance of $80,000 at January 1 Prepare monthly cash budgets for January, February, and March. (Negative balances and Loan repayment amounts (If any) should be indicated wlth minus…
- The following information was taken from Swifty Corporation cash budget for the month of July: Beginning cash balance $95000 Cash receipts 91000 Cash disbursements 129000 If the company has a policy of maintaining an end of the month cash balance of $95000, the amount the company would have to borrow is $57000. $38000. $19000. $24000. The following information was taken from Swifty Corporation cash budget for the month of July: Beginning cash balance $95000 Cash receipts 91000 Cash disbursements 129000 If the company has a policy of maintaining an end of the month cash balance of $95000, the amount the company would have to borrow is $57000. $38000. $19000. $24000. The following information was taken from Swifty Corporation cash budget for the month of July: Beginning cash balance $95000 Cash receipts 91000 Cash disbursements 129000 If the company has a policy of maintaining an end of the month cash balance of $95000, the…The following information was taken from Southgate Industry’s cash budget for the month of July: Beginning cash balance $480,000 Cash receipts 304,000 Cash disbursements 544,000 If the company has a policy of maintaining a minimum end of the month cash balance of $400,000, the amount the company would have to borrow is Group of answer choices $240,000. $96,000. $80,000. $160,000.Fairview Medical Supply has applied for a loan. First American Bank has requested a budgeted balance sheet as of April 30, and a combined cash budget for April. As Fairview Medical Supply's controller, you have assembled the following information: a. March 31 equipment balance, $52,700; accumulated depreciation, $41,100. b. April capital expenditures of $42,700 budgeted for cash purchase of equipment. c. April depreciation expense, $500. d. Cost of goods sold, 60% of sales. e. Other April operating expenses, including income tax, total $13,400, 30%of which will be paid in cash and the remainder accrued at April 30. f. March 31 owners' equity, $93,600. g. March 31 cash balance, $40,100. h. April budgeted sales, $91,000, 70% of which is for cash. Of the remaining 30%, half will be collected in April and half in May. i. April cash collections on March sales, $29,200. j. April cash payments of March 31 liabilities incurred…
- Prepare a master budget for the three-month period ending June 30 that includes a budgeted balance sheet as of June 30.Jaborosa, Inc., a merchandising company, has provided the following budgeted amounts for the next budget period. Beginning cash balance Cash collections Payments for: Purchases of merchandise inventory Selling and administrative expenses Capital expenditures $30,700 680,000 O A. $(17,700) OB. $710,700 OC. $290,900 O D. $32,300 349,300 70,500 308,600 A minimum cash balance of $30,000 is required to be maintained. The company can borrow in increments of $10,000 as and when required. Assume the company can borrow the needed funds at the end of the period. Calculate the ending cash balance for the budget period. C...The accountant for Stuarts Dress Shop prepared the following cash budget. Stuarts desires to maintain a cash balance of $19,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 2 percent per month. Required Complete the cash budget by filling in the missing amounts.Determine the amount of net cash flows from operating activities Stuarts will report on the third quarter pro forma statement of cash flows.Determine the amount of net cash flows from financing activities Stuarts will report on the third quarter pro forma statement of cash flows.
