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 amount the company would have to borrow is $57000. $38000. $19000. $24000. Kingbird, Inc. unadjusted trial balance includes the following balances (assume normal balances): • Accounts Receivable $1200000 • Allowances for Doubtful Accounts $21200 Bad debts are estimated to be 6% of outstanding receivables. What amount of bad debt expense will the company record? $73378 $49522 $72000 $50800 The financial statements of the Kingbird, Inc. report net sales of $372000 and accounts receivable of $50400 and $18000 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation.) 43.7 33.6 74.1 23.4 Pharoah Company had net credit sales during the year of $1407600 and cost of goods sold of $424000. The balance in accounts receivable at the beginning of the year was $115200 and at the end of the year was $190800. What was the accounts receivable turnover? 9.2 11.2 6.0 7.9
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
The following information was taken from Swifty Corporation
| 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
| 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
| 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
Kingbird, Inc. unadjusted
|
• |
Accounts Receivable |
$1200000 |
|
• |
Allowances for Doubtful Accounts |
$21200 |
$73378
$49522
$72000
$50800
The financial statements of the Kingbird, Inc. report net sales of $372000 and accounts receivable of $50400 and $18000 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation.)
43.7
33.6
74.1
23.4
Pharoah Company had net credit sales during the year of $1407600 and cost of goods sold of $424000. The balance in accounts receivable at the beginning of the year was $115200 and at the end of the year was $190800. What was the accounts receivable turnover?
9.2
11.2
6.0
7.9
Trending now
This is a popular solution!
Step by step
Solved in 5 steps
