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Use the following information to answer questions 20 to 201 ABC Co. is preparing a cash budget for the first quarter of 2023 (in LV): 21. Total cash available in January is: A. LE 514,000 Beginning cash balance Minimum cash balance Total Cash collections 587,000 Total Cash payments and Disbursements The company can borrow (if necessary) and repay as promptly as possible. Borrowing occurs at the beginning of the month(s) and repayment occurs at the end of the month(s). Annual interest rate is 12% and it is paid when the related loans is repaid. Borrowing and repayment of loan principal are in multiples of LE 5,000. B. LE 850,000 22. Total cash needed in January in: A. LE 805,000 23. Beginning cash balance LE 60,000 January February 140,000 60,000 60,000 380,000 481,000 B. LE 642,000 of February is: B. LE 62,000 March 7 60,000 790,000 766,250 LE 520,000 C. LE 1,863,000 C. LE 64,000 D. LE 1,760,000 $. LE 541,000 D. LE (45,000)

Use the following information to answer questions 20 to 201 ABC Co. is preparing a cash budget for the first quarter of 2023 (in LV): 21. Total cash available in January is: A. LE 514,000 Beginning cash balance Minimum cash balance Total Cash collections 587,000 Total Cash payments and Disbursements The company can borrow (if necessary) and repay as promptly as possible. Borrowing occurs at the beginning of the month(s) and repayment occurs at the end of the month(s). Annual interest rate is 12% and it is paid when the related loans is repaid. Borrowing and repayment of loan principal are in multiples of LE 5,000. B. LE 850,000 22. Total cash needed in January in: A. LE 805,000 23. Beginning cash balance LE 60,000 January February 140,000 60,000 60,000 380,000 481,000 B. LE 642,000 of February is: B. LE 62,000 March 7 60,000 790,000 766,250 LE 520,000 C. LE 1,863,000 C. LE 64,000 D. LE 1,760,000 $. LE 541,000 D. LE (45,000)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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e expected total purchases for January 2023 (in LE)? B. 13,500 C. 10,500 the 28. What are A. 9,600 D. 10,800 29. What are the estimated cash disbursements for purchases in February 2023 (in LE)? A. 9,900 B. 12,000 C. 12,150 D. 25,000 30. What are the estimated total cash disbursements in March 2023 (in LE)? A. 18,000 B. 23,000 C. 25,000 D. 12,000 ination Pape
Transcribed Image Text:e expected total purchases for January 2023 (in LE)? B. 13,500 C. 10,500 the 28. What are A. 9,600 D. 10,800 29. What are the estimated cash disbursements for purchases in February 2023 (in LE)? A. 9,900 B. 12,000 C. 12,150 D. 25,000 30. What are the estimated total cash disbursements in March 2023 (in LE)? A. 18,000 B. 23,000 C. 25,000 D. 12,000 ination Pape
Use the following information to answer questions 20 to 263, ABC Co. is preparing a cash budget for the first quarter of 2023 (in LK); January February 7 21. Total cash available in January is: A. LE 514,000 Beginning cash balance Minimum cash balance Total Cash collections Total Cash payments and Disbursements The company can borrow (if necessary) and repay as promptly as possible. Borrowing occurs at the beginning of the month(s) and repayment occurs at the end of the month(s), Annual interest rate is 12% and it is paid when the related loans is repaid. Borrowing and repayment of loan principal are in multiples of LE 5,000. B. LE 850,000 22. Total cash needed in January is: A. LE 805,000 23. Beginning cash balance 7. LE 60,000 B. LE 642,000 of February is: B. LE 62,000 24. In February, the firm borrows: A. LE 25,000 B. LE 135,000 25. Total financing in March is: A. LE (25,750) B. LE 46,100 140,000 60,000 380,000 450,000 481,000 587,000 26. Ending cash balance for March is: A. LE 62,000 B. LE 60,000 LE 520,000 C. LE 1,863,000 C. LE 64,000 C. LE 21,000 C. LE 45,000 @LE 140,000 Use the following information to answer questions 27 to 30: Horas Company has the following data: Months January,2023 LE16,000 Budgeted Sales February,2023 LE 24,000 March 7 60,000 790,000 766,250 March,2023 LE 18,000 D. LE 1,760,000 $. LE 541,000 D. LE (45,000) p. None of these D. LE 25,750 D. LE 64,000 April,2023 LE 16,000 The gross profit rate is 40% of sales, the desired ending inventory level is LE 5,000+ 25% of next month's COGS. 27. What are the expected total purchases for March, 2023 (in LE)? A. 10,800 B. 13,500 J.10,500 • Purchases are paid 50% in the same month of purchase and the remaining 50% is paid in the next month following the month of purchase. Accounts payable balance in December 31, 2022 is L.E. 4,500. It is expected to pay every month LE 8,100 for the monthly cash operating expenses. It is planned to pay for the purchases of some fixed assets, the amounts of LE 4,750 in February, 2023, and LE 2,900 in March, 2023, D. 9,600
Transcribed Image Text:Use the following information to answer questions 20 to 263, ABC Co. is preparing a cash budget for the first quarter of 2023 (in LK); January February 7 21. Total cash available in January is: A. LE 514,000 Beginning cash balance Minimum cash balance Total Cash collections Total Cash payments and Disbursements The company can borrow (if necessary) and repay as promptly as possible. Borrowing occurs at the beginning of the month(s) and repayment occurs at the end of the month(s), Annual interest rate is 12% and it is paid when the related loans is repaid. Borrowing and repayment of loan principal are in multiples of LE 5,000. B. LE 850,000 22. Total cash needed in January is: A. LE 805,000 23. Beginning cash balance 7. LE 60,000 B. LE 642,000 of February is: B. LE 62,000 24. In February, the firm borrows: A. LE 25,000 B. LE 135,000 25. Total financing in March is: A. LE (25,750) B. LE 46,100 140,000 60,000 380,000 450,000 481,000 587,000 26. Ending cash balance for March is: A. LE 62,000 B. LE 60,000 LE 520,000 C. LE 1,863,000 C. LE 64,000 C. LE 21,000 C. LE 45,000 @LE 140,000 Use the following information to answer questions 27 to 30: Horas Company has the following data: Months January,2023 LE16,000 Budgeted Sales February,2023 LE 24,000 March 7 60,000 790,000 766,250 March,2023 LE 18,000 D. LE 1,760,000 $. LE 541,000 D. LE (45,000) p. None of these D. LE 25,750 D. LE 64,000 April,2023 LE 16,000 The gross profit rate is 40% of sales, the desired ending inventory level is LE 5,000+ 25% of next month's COGS. 27. What are the expected total purchases for March, 2023 (in LE)? A. 10,800 B. 13,500 J.10,500 • Purchases are paid 50% in the same month of purchase and the remaining 50% is paid in the next month following the month of purchase. Accounts payable balance in December 31, 2022 is L.E. 4,500. It is expected to pay every month LE 8,100 for the monthly cash operating expenses. It is planned to pay for the purchases of some fixed assets, the amounts of LE 4,750 in February, 2023, and LE 2,900 in March, 2023, D. 9,600
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