Your Company is working on its cash budget for July. The budgeted beginning cash balance is $46,000. Budgeted cash receipts total $174,000 and budgeted cash disbursements total $175,000. The desired ending cash balance is $50,000. What is the excess (deficiency) of cash available over disbursements for July? Group of answer choices $ 45,000 $221,000 $ 50,000 $ 1,000 $ 47,000

Your Company is working on its cash budget for July. The budgeted beginning cash balance is $46,000. Budgeted cash receipts total $174,000 and budgeted cash disbursements total $175,000. The desired ending cash balance is $50,000. What is the excess (deficiency) of cash available over disbursements for July? Group of answer choices $ 45,000 $221,000 $ 50,000 $ 1,000 $ 47,000

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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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 $224,000
Problem 1 As treasurer of a manufacturing company, you are preparing a cash budget for September of the next fiscal year. The information for September you have, at your disposal to complete this task is as follows: (а) Next year's sales forecast follows: July August September October $350,000 $240,000 $300,000 $360,000 (b) The sales price is $60. (c) Each month, 20% of the sales are for cash and 80% are on credit. (d) The AR collection pattern for credit sales is: 20% is received in 0-30 days 50% is received in 31-60 days 30% is received in 60-90 days (e) The cash in bank at the beginning of September is $15,400 (f) The per unit production cost data is: Direct material $20 Direct labor 1 direct labor hour per unit; $15 direct labor rate The company monthly beginning FG inventory policy is to maintain a minimum of 25% of the current month's sales. (g) (h) The AP pattern for credit purchases is: 30% is paid in 0-30 days 70% is paid in 31-60 days (i) There is a income tax payment of…
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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
Question 6. Please fill in the blanks in the same format as the question