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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- 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. How much financing does the company need in February? $25,000 $60,000 $0 $35,000I 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…Cheyenne Company has budgeted the following information for June: Cash receipts Beginning cash balance Cash payments Desired ending cash balance If there is a cash shortage, the company borrows money from the bank. All cash is borrowed at the beginning of the month in $1,000 increments, and interest is paid monthly at 1% on the first day of the following month. The company had no debt before June 1. The amount of interest paid on July 1 would be: Multiple Choice $590. $ 339,000 22,000 382,000 42,000 $476.
- Bagel Company is preparing its cash budget for the upcoming month. The beginning cash balance for the month is expected to be $17,000. Budgeted cash receipts are $87,000, while budgeted cash disbursements are $70,000. Bagel Company wants to have an ending cash balance of $50,000. The excess (deficiency) of cash available over disbursements for the month would beVarughese Incorporated is working on its cash budget for March. The budgeted beginning cash balance is $33,000. Budgeted cash receipts total $182,000 and budgeted cash disbursements total $191,000. The desired ending cash balance is $40,000. The excess (deficiency) of cash available over disbursements for March will be: Multiple Choice O O ($9,000) $24,000 $215,000 $42,000Cheddar's Café is preparing its cash budget for August. At the beginning of the month, the café expects to have $17,500 in total available cash. Over the course of the month, it expects to make $12,250 in cash disbursements and obtain $3,750 in financing. What is Cheddar's anticipated ending cash balance for August? O $9,000 O $5,250 O $26,000 O $1,500
- Western Company is preparing a cash budget for June. The company has $10,400 in cash at the beginning of June and anticipates $31,600 in cash receipts and $37,700 in cash payments during June. Western Company has an agreement with its bank to maintain a minimum cash balance of $10,000. As of May 31, the company has no loans outstanding. To maintain the $10,000 required balance, during June the company must:Crane Company is preparing a cash summary budget using the data below. They have already prepared their cash receipts and cash payments budget so that data is provided: October November Beginning Cash Balance $16000 Expected Cash Receipts $63000 $95000 Expected Cash Payments $45000 $76000 Management always wants to maintain a $41,600 minimum cash balance at the end of every month. If there is an expected cash shortfall in the budget they will be proactive and borrow money at the first day of the month. That way they will not risk having too low of a balance during the month. They can borrow any amount of money needed. They may not pay loans back in installments. They have to pay them back all at once. The interest rate is 12%. Assume if they pay back money, they pay it back on the last day of the month. What is the ending cash balance for November after all loan repayments of principle and interest? Round your answer to the nearest whole…Tomo, Inc. has prepared its third quarter budget and provided the following data: Jul $49,000 Aug $39,800 Sep $47,900 Cash collections Cash payments: Purchases of direct materials Operating expenses Capital expenditures 17,900 11,100 0 The cash balance on June 30 is projected to be $4,600. The company has to maintain a minimum cash balance of $5,000 and is authorized to borrow at the end of each month to make up any shortfalls. It may borrow in increments of $5,000 and has to pay interest every month at an annual rate of 5%. All financing transactions are assumed to take place at the end of the month. The loan balance should be repaid in increments of $5,000 whenever there is surplus cash. Calculate the final projected cash balance at the end of August taking into consideration all the financing transactions. 31,000 12,100 13,700 O A. $46600 OB. $-8842 OC. $15000 O D. $6158 21,800 8,700 24,900
- 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 $53,500Santos Company is preparing a cash budget for February. The company has $15,000 cash at the beginning of February and budgets $72,000 in cash receipts from sales and $105,000 in cash payments during February. Prepare the cash budget for February assuming the company maintains a $5,000 minimum cash balance and will take a loan if necessary to maintain this balance. The company has no loans outstanding on February 1. (Negative cash balances, if any, should be indicated with minus sign.) SANTOS COMPANY Cash Budget Beginning cash balance Total cash available Preliminary cash balance Loan activity Ending cash balance Loan balance, end of month FebruaryRiff, Inc. is working on its cash budget for June. The budgeted beginning cash balance is $27,000. Budgeted cash receipts total $199,000 and budgeted cash disbursements total $198,000. The desired ending cash balance is $62,000. The excess (deficiency) of cash available over disbursements for June will be: