Verle, Inc. has a cash balance of $24,000 on April 1. The company is now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows: Cash collections Cash payments: Purchases of direct materials Operating expenses Apr May Jun $24,000 $24,000 $25,000 5,800 4,600 4,600 6,000 3,500 5,300 There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above data, calculate the projected cash balance at the end of May. OA. $60,200 OB. $24,000 OC. $52,100 OD. $55,600
Q: Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has…
A: To prepare Garden Depot's cash budget, we need to calculate the total cash available, total cash…
Q: Your Company is working on its cash budget for July. The budgeted beginning cash balance is $50,000.…
A: A cash budget involves the estimation of cash inflows and cash flows that may occur in the future…
Q: Hasanağa Inc. has a cash balance of $20,000 on April 1, 2015. They are now preparing the cash budget…
A: Estimation of projected cash balances helps the business entity to plan their expenditures…
Q: Sedita Incorporated is working on its cash budget for July. The budgeted beginning cash balance is…
A: The excess cash available is determined by adding the beginning balance of cash and cash receipts…
Q: On March 1 of the current year, Spicer Corporation compiled information to prepare a cash budget for…
A: A cash budget is an estimate of a corporation's cash flows for a given time span. A cash budget is…
Q: 11 Ic raw 311 Rift, Incorporated is working on its cash budget for June. The budgeted beginning cash…
A: CASH BUDGET Cash Budget is estimated receipts and expenses for a definite period, which usually…
Q: Western Company is preparing a cash budget for June. The company has $10,600 cash at the beginning…
A: Cash budget was used by the management to plan for expected disbursements and receipts of cash for a…
Q: Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has…
A: Cash Budget is the budget that records all the transactions related to cash inflow and cash outflow…
Q: NanaKay Ltd is working on its cash budget for June. The budgeted beginning cash balance is…
A: Budgets: Budgets are prepared for the planning and controlling purposes. Budgets facilitate planning…
Q: Sedita Inc. is working on its cash budget for July. The budgeted beginning cash balance is $14.000.…
A: A cash budget is an estimation of the cash flows of a business over a specific period of time. This…
Q: Morgan Inc. is preparing its cash budget. The company’s policy states that its minimum required cash…
A: The objective of the question is to calculate the estimated cash balance after financing at the end…
Q: Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has…
A: A cash budget is a financial tool used by businesses to plan and manage their cash inflows and…
Q: Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has…
A: Cash budgeting involves forecasting a company's cash inflows and outflows over a specific period,…
Q: The accountant for Munoz’s Dress Shop prepared the following cash budget. Munoz’s desires to…
A: A cash budget is a document that forecasts how much money a company will have on hand each week,…
Q: Castor Incorporated is preparing its master budget. Budgeted sales and cash payments for merchandise…
A: It says that cash sales is 50%, therefore we simply multiply total sales for the month by 50% to get…
Q: Indigo Corporation prepares monthly cash budgets. Here are relevant data from operating budgets for…
A: *Workings:
Q: Nizwa Inc. is working on its cash budget for June. The budgeted beginning cash balance is $12,000.…
A: Cash budget means expected cash receipts and expected cash payment with opening and closing cash…
Q: Garden Depot is a retaller that is preparing Its budget for the upcoming fiscal year. Management has…
A: The cash budget is the budget that estimates the cash receipts, payments, borrowings, and repayment…
Q: XYZ company is preparing its cash budget for the first quarter of. the year. It has $10,000 in cash…
A: Budgeted total cash payment = Inventory purchase + other operating expenses - depreciation = $25,000…
Q: Monette Company is a manufacturer that is preparing its budget for the upcoming quarter. has…
A: Budgeting - Budgeting is the process of estimating future operations based on past performance. %…
Q: Santos Company is preparing a cash budget for February. The company has $19,000 cash at the…
A: The cash budget is prepared to estimate the cash balance and cash requirements for the period. The…
Q: Your Company is working on its cash budget for July. The budgeted beginning cash balance is $50,000.…
A: Cash receipts are sums of money received from consumers for the sale of goods or services. Payments…
Q: Zolezzi Incorporated is preparing its cash budget for March. The budgeted beginning cash balance is…
A: Budgeting anticipates revenue and expenditures for a future period based on the past performance and…
Q: ONas Corporation is preparing its cash budget for September. The budgeted beginning cash balance is…
A: Cash budget is one of the important budget that is being prepared in business in order to show…
Q: Hasanağa Inc. has a cash balance of $20,000 on April 1, 2015. They are now preparing the cash budget…
A: Budgeting is an important part of the business process. Without budgeting a business cannot track…
Q: Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has…
A: Budget means the expected value of future. Budget will be compared with actual value and variance is…
Q: i need the answer quickly
A: Budgeting is a method of estimating expected future outcomes based on past events. Budgeting…
Q: You have been hired by Ashton Corporation, a retailer, to assist in preparing the annual cash…
A: The cash budget is prepared to estimated the cash requirements during the period. It tells about the…
Q: A company is preparing its cash budget for the first quarter of the year. It has $8700 in cash at…
A: The question is based on the concept of Cost Accounting.
Q: Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has…
A: Cash Budget - Estimate of an organization's cash flow for a future period. A cash budget forecasts…
Q: Laurey Inc. is working on its cash budget for June. The budgeted beginning cash balance is $45,100.…
A: Introduction: Cash includes bills, coins, bank balances, money orders, and checks. Cash is used to…
Q: Jardin & Co. is a retailer that is preparing its budget for the upcoming fiscal yea Management has…
A: The cash budget is prepared by the business organization so as to estimate the cash inflows and…
Q: On October 1 of the current year, Molloy Corporation prepared a cash budget for October, November,…
A: In normal business scenario, the collections are not made on the day of sale, they are collected…
Q: The LaGrange Corporation had the following budgeted sales for the first half of the current year:…
A: Collection Budget:Cash collection budget includes the estimated amount of cash received from the…
Q: Bries Corporation is preparing its cash budget for January. The budgeted beginning cash balance is…
A: Given information: Beginning cash balance : $ 18,400 Desired ending balance : $30,400 Cash receipts…
Q: Bries Corporation is preparing its cash budget for January. The budgeted beginning cash balance is…
A: The cash budget is prepared to estimate the cash requirements for the future period.
Q: Messers Company is preparing a cash budget for February. The company has $20,000 cash at the…
A: Cash budget is a kind of budget which was used to plan for expected disbursements and receipts of…
Q: Santos Company is preparing a cash budget for February. The company has $16,000 cash at the…
A: Cash budget means expected cash receipts and expected cash payment with opening and closing cash…
Q: How much would Becker Company need to borrow to achieve its desired ending cash balance?…
A: Cash Budget is the estimation of Cash Receipt and Cash disbursement during a particular period…
Q: Prepare a budgeted income statement for July. Please present your solution in a good form and income…
A: Budgeted income statement of the business shows expected incomes and expected expenses and at the…
Q: The company provides the following information regarding the cash budget for next year: Quarter…
A: At the end of quarter two, there is excess of $2000 that means no loan is required and previous loan…
Q: Laurey Inc. is working on its cash budget for June. The budgeted beginning cash balance is $45,100.…
A: Amount to be borrowed = Ending cash balance - Receipts + Payments - Beginning cash balance
Q: Your Company is working on its cash budget for July. The budgeted beginning cash balance is $46,000.…
A: The excess (deficiency) of cash available over disbursements will be budgeted beginning cash balance…
Q: The accountant for Baird's Dress Shop prepared the following cash budget. Baird's desires to…
A: A cash budget is an organization's projection of its expected inflows and expenditures of cash over…
Q: XYZ company is preparing its cash budget for the first quarter of the year. It has $10,000 in cash…
A: The cash budget is prepared to project the cash inflows and cash outflows for a particular period.
Q: Eudora, Inc. has a cash balance of $24,000 on April 1. The company is now preparing the cash budget…
A: The cash budget depicts the sources of cash inflow and the outflow. Non-cash transactions are not…
Q: On January 2, 2021, Mr Smith company leased a machine from Mrs Smith Company. The the following…
A: The formula to calculate the right to use asset is as below. Right to use asset = Lease liability +…
Unlock instant AI solutions
Tap the button
to generate a solution
Click the button to generate
a solution
- Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter $ 180,000 $ 260,000 Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Interest 2nd Quarter $ 330,000 $ 230,000 The company's beginning cash balance for the upcoming fiscal year will be $20,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for…Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter 2nd Quarter $ 350,000 $ 393,000 3rd Quarter $ 400,000 $ 353,000 4th Quarter $ 420,000 $ 373,000 $ 470,000 $ 363,000 The company's beginning cash balance for the upcoming fiscal year will be $20,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments, interest, and cash deficiencies should be indicated by a minus sign.) 2nd Quarter…Soru Muscat Inc. is working on its cash budget for December. The budgeted beginning cash balance is $14,000. Budgeted cash receipts total $127,000 and budgeted cash disbursements total $126,000. The desired ending cash balance is $50,000. How much the company needs to borrow a. $35,000 b. $0 c. $50,000 d. $70,000 tictheiournalentry to assien indirect raw materials to a iob W P
- Varughese 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 $42,000Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $ 370,000 $ 338,000 $300,000 $ 358,000 Borrowings Repayments Interest The company's beginning cash balance for the upcoming fiscal year will be $35,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Total financing Endinn…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:
- Please do not give solution in image format ?Corp. Is working on its cash budget for March. The budgeted beginning cash balance is $26,000. budgeted cash receipts total $198,000 and budgeted cash disbursements total $197,000. The desired ending cash balance is $45,000. Q) The excess (deficiency) of cash available over disbursements for March will be: Multiple Cholce $25,000 $1,000 $27,000 $224,000Prepare a budgeted balance sheet at March 31 using the following information from Zimmer Company. a. The cash budget for March shows an ending loan balance of $20,000 and an ending cash balance of $75,000. b. The sales budget for March shows sales of $140,000. Accounts receivable at the end of March are budgeted to be 60% of March sales. c. The merchandise purchases budget shows that $91,000 in merchandise will be purchased on credit in March. Purchases on credit are paid 100% in the month following the purchase. d. Ending merchandise inventory for March is budgeted to be 800 units at a cost of $35 each. e. Income taxes payable of $28,000 are budgeted at the end of March. f. Accounting records at the end of March show budgeted equipment of $82,000 with accumulated depreciation of $35,000. g. Common stock of $35,000 and retained earnings of $60,000 are budgeted at the end of March. ZIMMER COMPANY Budgeted Balance Sheet As of March 31 $ 0 0 0
- Edelmar Corp. has prepared a preliminary cash budget for the third quarter as shown below: Cash Budget Beginning cash balance Plus: Cash collections Cash available Less: Cash payments: Purchases of direct materials July $36,000 $56,000 92,000 Operating expenses Capital expenditures Ending cash balance Aug $17,000 $52,000 $69,000 34,000 41,000 0 $17,000 Subsequently, the marketing department revised its figures for cash collections. New data are as follows: $54,000 in July, $55,000 in August, and $44,000 in September. Based on the new data, calculate the new projected cash balance at the end of July Sep $21,500 47,800 $69,300 9,000 30,500 8,000 $21,500 10,000 30,800 7,700 $20,800Garden Depot is a retaller that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter $ 280,000 $ 344,888 Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Interest 2nd Quarter $ 480,000 $ 314,000 The company's beginning cash balance for the upcoming fiscal year will be $45,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Total financing Ending cash balance Required:…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 $53,500