Wateredge Corporation has budgeted a total of $361,800 in costs and expenses for the upcoming quarter. Of this amount, $45,000 represents depreciation expense and $7,300 represents the expiration of prepayments. Wateredge's current payables balance is $265,000 at the beginning of the quarter, Budgete payments on current payables for the quarter amount to $370,000. The company's estimated current payables balance at the end of the quarter is: Multiple Cholce $310,000. $179.500. $203.500. S204.500.

Wateredge Corporation has budgeted a total of $361,800 in costs and expenses for the upcoming quarter. Of this amount, $45,000 represents depreciation expense and $7,300 represents the expiration of prepayments. Wateredge's current payables balance is $265,000 at the beginning of the quarter, Budgete payments on current payables for the quarter amount to $370,000. The company's estimated current payables balance at the end of the quarter is: Multiple Cholce $310,000. $179.500. $203.500. S204.500.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Given the following information, prepare an annual income statement budget for the Great Student Corporation as of 12/31/2018. 1. Sales: 1000 Units; Price $1,000 per Unit 2. Cost of Goods Sold (COGS): 60% of Sales 3. Wages: 15 Employees; Average Cost per Employee $15000 4. SGA Expenses: 12% of Sales 5. Depreciation: Straight Line $4000 per year 6. Interest Expense: 1% of Sales What was the company's budgeted gross profit? O A. $403,000 O B. $400,000 O C. $41,000 O D. $359,000
Happy Habanero Inc. has decided to purchase new capital equipment costing $540,000 cash in the next fiscal year. They also intend on selling their old equipment for $31,000 cash. Prepare the capital budget for Happy Habanero Inc. for their upcoming year-end (June 30, 2019). Do not enter dollar signs or commas in the input boxes. Use the negative sign for values that must be subtracted. Happy Habanero Inc. Capital Budget for year-ending June 30, 2019 Capital Expenditures $Answer Sale of Capital Assets $Answer Total Capital Expenditures $Answer
Sydney Corporation, a provider of cable television, projects the following revenues: August September October $205,000 220,000 238,000 250,000 290,000 November December Total expenses are equal to 35 percent of the current month's revenues. Of this amount, $12,000 represents depreciation. Sixty percent of all accounts payable for expenses are paid for in the month incurred, with the remainder being paid in the following month. Compute the budgeted cash disbursements during November: $
Valley Trails is preparing the Cash Budget for the upcoming period, and is concerned about their ability to meet their financial obligations in the short term. Following is information relating to Valley’s financial performance: Beginning-of-period balances:Accounts Receivable: $135,000Accounts Payable: $67,500Accumulated Factory Depreciation: $720,000Cash: $33,750 Estimates for end-of-period balances:Accounts Receivable: $168,750Accounts Payable: $45,000Accumulated Factory Depreciation: $740,000 Budgeted activity levels for the period:Sales: $625,000Purchases of Direct Materials: $112,000Direct Labor Wages: $187,500Manufacturing Overhead: $62,500Selling and Administrative Expenses: $105,000 Except for purchases of direct materials, all expenses are paid as incurred. What is the budgeted ending cash balance for the period? Select one: a. None of these options are correct. b. $223,000 c. $191,750 d. $175,500 e. $155,500
The beginning cash balance is $18,000. Sales are forecasted at $860,000 of which 80% will be on account. Seventy percent of credit sales are expected to be collected in the year of sale. Cash expenditures for the year are forecasted at $475,000. Accounts Receivable from previous accounting periods totaling $11,300 will be collected in the current year. The company is required to make a $14,000 loan payment and an annual interest payment on the last day of every year. The loan balance as of the beginning of the year is $95,000, and the annual interest rate is 8%. Compute the excess of available cash over cash disbursements. Excess of available cash over cash disbursements $
Please help me with show all calculation thanku
LB Enterprises (LB) is preparing its budget for the first quarter of 2019. LB's balance sheet as of December 31, 2018 is as follows: Assets Liabilities Cash $5,000 Accounts Payable $9500 Accounts Recievable 28,000 Inventories Direct Materials 8,100 Finished Goods (500 Units) 16,870 Stockholders Equity Equipment - gross 45,000 Accumulated depreciation 15.000 Common Stock $15,000 Net Equipment 30,000 Retained Earnings 63,470 Total Assets $87,970 Total Liabilities and $87,960 Equity LB sells one product for $45/unit. The Company forecasts that it will sell 2,000; 1,500; 1,600; and 1,700 units in January, February, March and April, respectively. • Sales to customers are all on credit. 40% of the cash for these sales is collected in the month of the sale and the remaining 60% is collected in the following month. LB wants finished goods inventory equal to 25% of the next month's sales on hand at the end of each month. LB wants direct materials equal to 75% of the current month's production…