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BlackZzzverrR [31]
3 years ago
8

You recently began a job as an accounting intern at Raymond Adventures.

Business
1 answer:
Vlada [557]3 years ago
6 0

Answer:

Beginning cash balance for  March= $20,000

Cash collections for February =$90,600

Total cash available for March =$102,300

Cash payments (purchase inventory)  for February =$50,800

Cash payments (operating expenses) for March =$37,900

Total cash payments for March =$79,400

Ending cash balance before

financing for February =$8,400

Cash excess (deficiency) for February and March =$- 11,600 $2,900

New borrowings  for February and March

=$11,600 $0

Debt repayments for February and March

=$0 -$2,900

Interest payments for February  and March

=$0    $0

Ending cash balance for February  and March (1) + (2) =$20,000 $20,000

Explanation

Preparation of  Raymond Adventures

Combined Cash Budget for February and March

Raymond Adventures Combined Cash Budget for  February  and  March

Beginning cash balance 16,500 20,000

Plus: Cash collections 90,600 80,200

Plus: Cash from sale of plant assets 0 2,100

Total cash available 107,100 102,300

Less: Cash payments

(purchase inventory) 50,800 41,500

Less: Cash payments

(operating expenses) 47,900 37,900

Total cash payments 98,700 79,400

(1) Ending cash balance before

financing 8,400 22,900

Minimum cash balance desired 20,000 20,000

Cash excess (deficiency) -11,600 2,900

Financing:

Plus: New borrowings 11,600 0

Less: Debt repayments 0 -2,900

Less: Interest payments 0 0

(2) Total effects of financing 11,600  -2,900

Ending cash balance (1) + (2) 20,000 20,000

Beginning cash balance for  March

Minimum cash balance desired March 20,000

Calculation for Cash collections for February

Total cash available 107,100-Beginning cash balance 16,500=90,600

Calculation for Total cash available for March

Beginning cash balance 20,000

Plus: Cash collections  80,200

Plus: Cash from sale of plant assets  2,100

=102,300

Calculation for Cash payments (purchase inventory)  for February

Total cash payments 98,700 -Cash payments

(operating expenses) 47,900

=50,800

Calculation for Cash payments (operating expenses) for March

Total cash payments for March 79,400-Cash payments(purchase inventory) for March 41,500

=37,900

Calculation for Total cash payments for March

Total cash available for March  102,300-Ending cash balance before

financing for March 22,900

=79,400

Calculation for the Ending cash balance before

financing for February

Total cash available 107,100-Total cash payments 98,700

=8,400

Calculation for Cash excess (deficiency) for February and March

Ending cash balance before

financing 8,400 22,900

Less Minimum cash balance desired 20,000 20,000

=- 11,600 2,900

New borrowings  for February and March

11,600 0

Debt repayments for February and March

0 -2,900

Interest payments for February  and March

0    0

Calculation for Ending cash balance for February  and March (1) + (2)

(1) Ending cash balance before

financing 8,400 22,900

Add (2) Total effects of financing 11,600  -2,900

=20,000 20,000

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SVETLANKA909090 [29]

Answer:

Letter a is correct. <u>Steering team.</u>

Explanation:

Steering team  in a project correspond to the highest hierarchy of a project, which is responsible for the decision-making process, and is composed of all representatives involved in the project, the directors, specialists and units of the company, who will join efforts to assist with methodological and technical advantages for the project to proceed as planned.

The main function of the steering teams is to monitor the project, in order to control the steps in order to carry out the project, establish the budget, support the managers, set objectives, allocate necessary resources, etc.

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3 years ago
Mary begins an internship at a small company that makes touchscreens for imported smartphones. Her first assignment is to estima
vova2212 [387]

Answer:

Mary should answer that more than half of the boxes not be rejected.

Explanation:

Probability:

Box has one defective screen = 0.6

Box has three defective screen = 0.4

no. of screens in a box = 8

The box is rejected if both of the inspected screens are defective.

Probability of rejecting a box:

=0.6\times\frac{1}{8}\times\frac{0}{7} + 0.4\times\frac{3}{8}\times\frac{2}{7}

= 0.04286

Only 4.286% of the boxes will be rejected.

Therefore, Mary should answer that more than half of the boxes not be rejected.

6 0
3 years ago
On December 31, Briar Co. disposed of a piece of equipment that cost $6,000 with accumulated depreciation as of December 31 of $
Setler [38]

Briar Co. disposed of a $6,000 piece of equipment on December 31 with $4,500 in accrued depreciation as of that date. Then $1,500 will be debited from the Loss on Equipment Disposal account.

<h3>What is loss on Equipment Disposal account?</h3>

Gain/Loss on Asset Disposal is a common account name of the Equipment Disposal account.

The net difference between the initial asset cost and any cumulative depreciation (if any) is debited to the disposal account, while the balances in the fixed asset account and the accumulated depreciation are reversed.

On December 31, the debited amount is calculated as:

=\text{Disposed Equipment- Accumulated Depreciation}\\\\ =\$6,000- \$4,500\\\\ =\$1,500

Therefore, $1,500 will be the amount of loss on disposal of the Equipment.

Learn more about the depreciation, refer to:

brainly.com/question/14682335

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7 0
2 years ago
Justin Company's budget includes the following credit sales for the current year: September, $27,000; October, $38,000; November
Nesterboy [21]

Answer:

Total Cash to collect in November is $34,110.

Explanation:

To determine how much cash can Justin expect to collect in November, we prepare a Trade Receivables Budget.

<u>Trade Receivables Budget</u>

                                   September        October         November

Balance b/d                       $0               $24,300          $40,950

Credit Sales                  $27,000         $38,000           $32,000

Cash Received - 10%    ($2,700)          ($3,800)           ($3,200)

Cash Received - 65%            $0          ($17,550)         ($24,700)

Cash Received - 23%            $0                   $0             ($6,210)

Balance c/d                  $24,300          $40,950           $38,840

Therefore,

Total Cash to collect in November is $34,110 ($3,200 + $24,700 + $6,210).

3 0
3 years ago
If the price of a good increases by 5% and the quantity demanded decreases by 5%, then at that price, the good is _____.
anastassius [24]

Answer: unitary price elastic

Explanation:

A good is unitary price elastic if a change in price leads to the same proportional change in quantity demanded.

The coefficient of a good with unitary elasticity is 1 .

Coefficient of elasticity = percentage change in quantity demanded / percentage change in price

= 5% / 5% = 1

I hope my answer helps you

7 0
3 years ago
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