Cost Accounting (15th Edition)
15th Edition
ISBN: 9780133428704
Author: Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan
Publisher: PEARSON
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Chapter 17, Problem 17.9Q
To determine
To explain: The reason to call FIFO method as modified or department FIFO method.
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General Account
人
es
Total cash receipts
Total cash disbursements
1st Quarter
$ 320,000
$ 372,000
2nd Quarter
$ 440,000
$ 342,000
3rd Quarter
$ 370,000
4th Quarter
$ 390,000
$ 332,000
$ 352,000
The company's beginning cash balance for next year will be $27,000. The company requires a minimum cash balance of $10,000 and
may borrow money at the beginning of any quarter and may repay any part of its loans at the end of any quarter. Interest payments,
based on a quarterly interest rate of 3%, are due on any principal at the time it is repaid. For simplicity, assume interest is not
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Required:
Prepare the company's cash budget for next year.
Note: Repayments, interest, and cash deficiencies should be indicated by a minus sign.
Beginning cash balance
Total cash receipts
Total cash available
Total cash disbursements
Excess (deficiency) of cash available over disbursements
Financing:
Borrowings
Repayments
Interest
Total financing
Ending cash balance
L
Garden Depot
Cash Budget
1st Quarter
2nd Quarter…
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Chapter 17 Solutions
Cost Accounting (15th Edition)
Ch. 17 - Give three examples of industries that use...Ch. 17 - In process costing, why are costs often divided...Ch. 17 - Explain equivalent units. Why are equivalent-unit...Ch. 17 - What problems might arise in estimating the degree...Ch. 17 - Name the five steps in process costing when...Ch. 17 - Name the three inventory methods commonly...Ch. 17 - Describe the distinctive characteristic of...Ch. 17 - Describe the distinctive characteristic of FIFO...Ch. 17 - Prob. 17.9QCh. 17 - Identify a major advantage of the FIFO method for...
Ch. 17 - Identify the main difference between journal...Ch. 17 - The standard-costing method is particularly...Ch. 17 - Why should the accountant distinguish between...Ch. 17 - Transferred-in costs are those costs incurred in...Ch. 17 - Theres no reason for me to get excited about the...Ch. 17 - Prob. 17.16ECh. 17 - Prob. 17.17ECh. 17 - Prob. 17.18ECh. 17 - Prob. 17.19ECh. 17 - Prob. 17.20ECh. 17 - Prob. 17.21ECh. 17 - Prob. 17.22ECh. 17 - Prob. 17.23ECh. 17 - Prob. 17.24ECh. 17 - Prob. 17.25ECh. 17 - Prob. 17.26ECh. 17 - Prob. 17.27ECh. 17 - Prob. 17.28ECh. 17 - Prob. 17.29ECh. 17 - Prob. 17.30PCh. 17 - Prob. 17.31PCh. 17 - Prob. 17.32PCh. 17 - Prob. 17.33PCh. 17 - Prob. 17.34PCh. 17 - Prob. 17.35PCh. 17 - Prob. 17.36PCh. 17 - Prob. 17.37PCh. 17 - Prob. 17.38PCh. 17 - Prob. 17.39PCh. 17 - Prob. 17.40PCh. 17 - Prob. 17.41PCh. 17 - Benchmarking, ethics. Amanda McNall is the...Ch. 17 - Prob. 17.43P
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