Teddy Fedor started a TF Golf and Driving Range business on July 1. The following transactions occurred during the month of July: July 1 He contributed P250,000 cash and borrowed P200,000 more from the bank by issuing a one year promissory note in the name of the golf range. 2 Bought the land P100,000, building P200,000 and golf equipment P100,000 of Lyn Golf Course which closed down last June. 3 Hired a manager for a monthly salary of P25,000 and two ground personnel for a monthly salary of P15,000 each. 5 Promo materials to advertise the golf range were paid in cash, P10,000. 9 Cash of P25,000 was received for tickets sold to use the golf range. Use the title Ticket Sales Revenue. 12 Purchased supplies for cash P1,500. 15 Paid the half month salaries of the manager and ground personnel. 17 Withdrew cash of P5,000 for personal use. 20 Received P35,000 membership fees entitling holders to use the golf facilities. Use the title Membership Fees Revenue. 23 Cash of P20,500 were received for tickets sold. 26 Paid P2,500 for utilities used up. 30 Paid for the second half monthly salaries.

Teddy Fedor started a TF Golf and Driving Range business on July 1. The following transactions occurred during the month of July: July 1 He contributed P250,000 cash and borrowed P200,000 more from the bank by issuing a one year promissory note in the name of the golf range. 2 Bought the land P100,000, building P200,000 and golf equipment P100,000 of Lyn Golf Course which closed down last June. 3 Hired a manager for a monthly salary of P25,000 and two ground personnel for a monthly salary of P15,000 each. 5 Promo materials to advertise the golf range were paid in cash, P10,000. 9 Cash of P25,000 was received for tickets sold to use the golf range. Use the title Ticket Sales Revenue. 12 Purchased supplies for cash P1,500. 15 Paid the half month salaries of the manager and ground personnel. 17 Withdrew cash of P5,000 for personal use. 20 Received P35,000 membership fees entitling holders to use the golf facilities. Use the title Membership Fees Revenue. 23 Cash of P20,500 were received for tickets sold. 26 Paid P2,500 for utilities used up. 30 Paid for the second half monthly salaries.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) QUESTION 2 In the late June of each year, BOS Global Ltd prepares a cash budget for the next 6 months. The entity’s management wishes to prepare a cash budget in order to assess its likely requirements for short-term funds. Actual sales for May, and estimated sales for June, and for the next 7 months are as follows: Months Sales Revenues (Actual and Estimates) [GHS] Months Sales Revenues (Actual and Estimates) [GHS] May 20,000 September 50,000 June 28,000 October 94,000 July 24,000 November 74,000 August 26,000 December 52,000 January 40,000 Approximately 25 per cent of sales are for cash and 75 per cent are on credit. Past experience has shown that two-third of all credit sales are collected in the month immediately following the month of…
Kat Ltd.'s September balance sheet contains the following information: Cash Accounts receivable. Allowance for doubtful accounts Merchandise inventory $ 37,500 (dr) 126,000 (dr) 2,800 (cr) 26,250 (dr) Management has designated $37,500 as the firm's minimum monthly cash balance. Other information about the firm and its operations is as follows: a. Sales revenues of $350,000, $420,000, and $312,500 are expected for October, November, and December, respectively. All goods are sold on account. b. The collection pattern for accounts receivable is 60% in the month of sale, 39% in the month following the month of sale, and 1% uncollectible, which is set up as an allowance. c. Cost of goods sold is 60% of sales revenues. d. Management's target ending balance of merchandise inventory is 10% of the current month's budgeted cost of goods sold. e. All accounts payable for inventory are paid in the month of purchase. f. Other monthly expenses are $49,250, which includes $3,500 of depreciation and…
Cash flows It is typical for Jane to plan, monitor, and assess her financial position using cash flows over a given period, typically a month. Jane has a savings account and her bank loans money at 6% per year while it offers short-term investment rates of 5%. Jane's cash flows during Augu were as follows: a. Determine Jane's total cash inflows and cash outflows. b. Determine the net cash flow for the month of August. c. If there is a shortage, what are a few options open to Jane? d. If there is a surplus, what would be a prudent strategy for her to follow? Data table (Click the icon here in order to copy the contents of the data table below into a spreadsheet.) Item Clothes Interest received Dining out Groceries Salary Auto payment Utilities Mortgage Gas Cash inflow Cash outflow $1,100 $440 $4,400 $450 $820 $359 $290 $1,310 $219 X
1. Calculate the expected cash collections for July. 2. Calculate the expected cash disbursements for merchandise purchases for July. 3. Prepare a cash budget for July.
Beginning cash balance as on March 1, P80,000. Cash receipts from sales P400,000 Budgeted cash disbursements for purchases 250,000. Budgeted cash disbursements for salaries 90,000. Cash repayment of bank loan 30,000. Prepare a cash budget for the month ended on March 31 for Spars Corp.
3. The Uthred Company, a merchandising firm, has planned the following sales for the next four months: March $50,000 Аpril $70,000 Мay $90,000 June July $90,000 Total budgeted Sales $60,000 Sales are made 60% on account and 40% cash. From experience, the company has learned that a month's sales on account are collected according to the following pattern: Month of sale 60% • First month following month of sale . • Second month following month of sale • Uncollectible 28% 10% 2% Uthred has a building that is not used in the business operation; they rented it out and receive $10,080 rent every month. The company requires a minimum cash balance of $14,000 to start a month.
The business needs to have a sense of its future cash flows and therefore requires the preparation of the following: 1. A schedule of budgeted cash collections for trade receivables (sales on account) for each of the months July to September. 2. A schedule of expected cash disbursements for accounts payable (purchases on account) for each of the months July to September. 3.
Raghubhai
The budgeted monthly statement of profit or loss is drawn up on the basis of cash received and cash paid while the month-by-month cash budget is drawn up on the accruals basis. True False
The amount of prepaid expense reflected in the disbursement section of the cash budget is the same amount that is found on the monthly operating statement. True False
4C. Draw up a cashbudget for Amal showing the balance at the end of each month, from the following information for the six months from July to December 2019: (a) Opening cash (including bank) balance on 1 July 2019 OMR 3600 (b) Production in units: Jan 500 Feb800 March 700 April 900 May1000 June850 July890 Aug1050 Sep650 Oct750 Nov 900 Dec800 (c) Raw materials used in production cost OMR 25 per unit. Of this, 75 per cent is paid in the month of production and remaining balance in the month after production. (d) Direct labour costs of OMR 20 per unit are payable in the month of production. (e) Variable expenses are OMR 10 per unit, payable 50 per cent in the same month as production and remaining balance in the month after production. (f) Sales at OMR 70 per unit: Jan 450 Feb 600 March 900 April 800 May 850 June 700 July 1,000 Aug 800 Sep 900 Oct 500 Nov 600 Dec 750 Debtors to pay their accounts one month after that in which sales is made (g) Fixed expenses of OMR 1,200 per month…
Determine if the following items can be found on a Balance Sheet, cash flow statement, or a budget. *Current value of your investment account. *Spending patterns for the past few months.

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