Laurey Inc. is working on its cash budget for June. The budgeted beginning cash balance is $45,100. Budgeted cash receipts total $129,000, and budgeted cash disbursements total $134,000. The desired ending cash balance is $60,000. To attain its desired ending cash balance for June, the company needs to borrow:
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- Bries Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $18,800. Budgeted cash receipts total $187,000 and budgeted cash disbursements total $189,600. The desired ending cash balance is $30,800. To attain its desired ending cash balance for January, the company should borrow: Multiple Cholce $14,600 $0 $30,800 $47.000Crose Inc. is working on its cash budget for November. The budgeted beginning cash balance is $22,000. Budgeted cash receipts total $118,000 and budgeted cash disbursements total $116,000. The desired ending cash balance is $40,000. To attain its desired ending cash balance for November, the company needs to borrow:NanaKay Company must maintain a minimum cash balance of GH¢25,000. At the beginning of June, the company’s cash balance was GH¢17,000. Budgeted cash receipts for June are GH¢150,000, and budgeted cash disbursements are GH¢201,000. Budgeted net income for July totals GH¢11,000. How much will NanaKay Company need to borrow by the end of June?
- The controller of Mercury Shoes Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: Sales Sales/Costs Manufacturing costs Selling and admin. expenses Capital expenses April $150,000 66,000 40,000 0 May $175,000 87,000 46,000 0 June $195,000 115,000 51,000 120,000 The company expects to sell about 15% 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 after sale). Depreciation, insurance, and property tax expense represent $12,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in December, and the annual property taxes are paid in September. Of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month. Current assets as of April 1 include cash of $42,000, marketable…A company is preparing its cash budget for the upcoming quarter. The company's sales are expected to be $500,000 in January, $600,000 in February, and $700,000 in March. The company's cost of goods sold is 60% of sales. The company's beginning cash balance is $50,000, and the company desires to maintain a minimum cash balance of $25,000. What is the company's budgeted cost of goods sold for February? $360,000 $540,000 $450,000 $350,000Becker Company is preparing its cash budget for the upcoming month. The budgeted beginning cash balance is expected to be $70,000. Budgeted cash disbursements are $254,000, while budgeted cash receipts are $252,000. Becker Company wants to have an ending cash balance of $100,000. How much would Becker Company need to borrow to achieve its desired ending cash balance? $98,000 $168,000 $32,000 $84,000
- Prepare a budgeted income statement for July. Please present your solution in a good form and income statement in good form.Verle, Inc. has a cash balance of $24,000 on April 1. The company is now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows: Cash collections Cash payments: Purchases of direct materials Operating expenses Apr May Jun $24,000 $24,000 $25,000 5,800 4,600 4,600 6,000 3,500 5,300 There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above data, calculate the projected cash balance at the end of May. OA. $60,200 OB. $24,000 OC. $52,100 OD. $55,600Nana Kay company must maintain a minimum cash balance of ghc 25000. At the beginning June, the company's cash balance was ghc 17000. Budgeted cash receipts for June are ghc 150000 and budgeted cash disbursement are ghc 201000. Budgeted net income for July totals ghc 11,000. How much will Nana Kay company need to borrow by the end of June?
- Company L charges all operating expenses to credit. They pay 70% of their accounts payable in the month following the expense, and 30% two months following the expense. Expenses (all paid for on credit) for the last three months have been provided below: August: $80,000 September: $120,000 October: $94,000 What is the budgeted cash outflow for October?Wala Incorporated bases its selling and administrative expense budget on the number of units sold. The variable selling and administrative expense is $3.70 per unit. The budgeted fixed selling and administrative expense is $30,360 per month, which includes depreciation of $3,630. The remainder of the fixed selling and administrative expense represents current cash flows. The sales budget shows 3,100 units are planned to be sold in July. Required: Prepare the selling and administrative expense budget for July. Fixed selling and administrative expense Total selling and administrative expense Cash disbursements for selling and administrative expenses $ $ $ July 3,600 4.00 14,400 14,400 14,400The controller of Mercury Shoes Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: Sales/Costs Sales Manufacturing costs Selling and admin. expenses Capital expenses April May June $150,000 $175,000 $195,000 66,000 87,000 115,000 40,000 46,000 51,000 0 0 120,000 The company expects to sell about 15% 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 after sale). Depreciation, insurance, and property tax expense represent $12,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in December, and the annual property taxes are paid in September. Of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month. Current assets as of April 1 include cash of $42,000, marketable…
