PROBLEM 2 A cash budget, by quarters, is given below for a retail company. (000 omitted company requires a minimum cash balance of at least Br 5,000 to start each quar Quarter II III IV Year Br 6 Br ? Br ? Br ? Br ? Cash balance, beginning Add collections from customers 96 323 Total cash available 71 Less disbursements: Purchase of inventory 35 45 35 30 30 113 Operating expenses Equipment purchases 8. 8 10 36 Dividends Total disbursements 85 11 Excess (deficiency) of cash Financing: Borrowings Repayments (including interest)* Total financing Cash balance, ending *Interest will total Br 1,000 for the year. (2) 15 (?) (17) (?) Br ? Br ? Br ? Br ? Br ? Required: Fill in the missing amounts in the above table. PROBLEM 3 The following information is available for Top Company: FLEXIBLE BUDGET ACTUAL FLEXIBLE SALES STATIC STATIC BUDGET VOLUME VARIANCE RESULTS BUDGET BUDGE VARIAN VARIANCE 150 a) Br 1,800 e) 1,050 i) 750 m) b) c) 120 d) Br 2,160 h) 1,500 1) 660 P) 300 t) 360 x) Units sold g) k) Revenues j) n) Variable costs o) Contribution margin 350 9) 400 u) r) s) Fixed costs v) w) Operating income Required: Find the missing item (a) through (x). For the variances indicate whether it is favorable (F) or unfavorable (U).
PROBLEM 2 A cash budget, by quarters, is given below for a retail company. (000 omitted company requires a minimum cash balance of at least Br 5,000 to start each quar Quarter II III IV Year Br 6 Br ? Br ? Br ? Br ? Cash balance, beginning Add collections from customers 96 323 Total cash available 71 Less disbursements: Purchase of inventory 35 45 35 30 30 113 Operating expenses Equipment purchases 8. 8 10 36 Dividends Total disbursements 85 11 Excess (deficiency) of cash Financing: Borrowings Repayments (including interest)* Total financing Cash balance, ending *Interest will total Br 1,000 for the year. (2) 15 (?) (17) (?) Br ? Br ? Br ? Br ? Br ? Required: Fill in the missing amounts in the above table. PROBLEM 3 The following information is available for Top Company: FLEXIBLE BUDGET ACTUAL FLEXIBLE SALES STATIC STATIC BUDGET VOLUME VARIANCE RESULTS BUDGET BUDGE VARIAN VARIANCE 150 a) Br 1,800 e) 1,050 i) 750 m) b) c) 120 d) Br 2,160 h) 1,500 1) 660 P) 300 t) 360 x) Units sold g) k) Revenues j) n) Variable costs o) Contribution margin 350 9) 400 u) r) s) Fixed costs v) w) Operating income Required: Find the missing item (a) through (x). For the variances indicate whether it is favorable (F) or unfavorable (U).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Accounting
![A cash budget, by quarters, is given below for a retail company. (000 omitted
PROBLEM 2
company requires a minimum cash balance of at least Br 5,000 to start each quart
Quarter
II
III
IV
Year
Br ?
Br ?
Br ?
Br ?
Br 6
Cash balance, beginning
96
323
Add collections from customers
Total cash available
71
Less disbursements:
Purchase of inventory
35
45
35
30
30
113
Operating expenses
Equipment purchases
8.
8
10
36
Dividends
Total disbursements
85
Excess (deficiency) of cash
Financing:
(2)
11
Borrowings
Repayments (including interest)*
Total financing
Cash balance, ending
*Interest will total Br 1,000 for the year.
15
(?)
(17)
(?)
Br ?
Br ?
Br ?
Br ?
Br ?
Required:
Fill in the missing amounts in the above table.
PROBLEM 3
The following information is available for Top Company:
ACTUAL
FLEXIBLE
FLEXIBLE
SALES
STATIC
BUDGET
STATIC
BUDGET
BUDGET
VOLUME
VARIANCE
RESULTS
BUDGE
VARIAN
VARIANCE
150 a)
b)
c)
120 d)
Br 2,160 h)
1,500 1)
660 P)
Units sold
Br 1,800 e)
1,050 i)
750 m)
350 q)
400 u)
f)
g)
Revenues
k)
j)
n)
r)
v)
Variable costs
Contribution margin
o)
300 t)
360 x)
s)
Fixed costs
w)
Operating income
Required: Find the missing item (a) through (x). For the variances indicate whether it is
favorable (F) or unfavorable (U).](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F313511dd-c4b7-417f-a089-c093976e0f84%2F7b75242c-1fe5-4180-abfb-08f20d0e1b7a%2Fbma39vv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A cash budget, by quarters, is given below for a retail company. (000 omitted
PROBLEM 2
company requires a minimum cash balance of at least Br 5,000 to start each quart
Quarter
II
III
IV
Year
Br ?
Br ?
Br ?
Br ?
Br 6
Cash balance, beginning
96
323
Add collections from customers
Total cash available
71
Less disbursements:
Purchase of inventory
35
45
35
30
30
113
Operating expenses
Equipment purchases
8.
8
10
36
Dividends
Total disbursements
85
Excess (deficiency) of cash
Financing:
(2)
11
Borrowings
Repayments (including interest)*
Total financing
Cash balance, ending
*Interest will total Br 1,000 for the year.
15
(?)
(17)
(?)
Br ?
Br ?
Br ?
Br ?
Br ?
Required:
Fill in the missing amounts in the above table.
PROBLEM 3
The following information is available for Top Company:
ACTUAL
FLEXIBLE
FLEXIBLE
SALES
STATIC
BUDGET
STATIC
BUDGET
BUDGET
VOLUME
VARIANCE
RESULTS
BUDGE
VARIAN
VARIANCE
150 a)
b)
c)
120 d)
Br 2,160 h)
1,500 1)
660 P)
Units sold
Br 1,800 e)
1,050 i)
750 m)
350 q)
400 u)
f)
g)
Revenues
k)
j)
n)
r)
v)
Variable costs
Contribution margin
o)
300 t)
360 x)
s)
Fixed costs
w)
Operating income
Required: Find the missing item (a) through (x). For the variances indicate whether it is
favorable (F) or unfavorable (U).
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