All categories

3 years ago

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

You might be interested in

1. Mrs. Ryan plants 3 flowers along 4 inches of a garden row. The garden row is 3 feet long.

finlep [7]

Question 1. if 3 flowers = 4 inches, and she has a 3 foot long row to plant flowers, then we need to see how many inches the row is.

1 foot = 12 inches

12 inches x 3 = 36 inches, or 3 feet.

Now we need to divide.

36 divided by 4 = 9.

So now we know that Mrs. Ryan can plant x amount of flowers 9 times. This makes the answer easier to find.

To find the answer, we need to simply multiply 3 and 9.

3 x 9 = 27.

Your answer would be Mrs. Ryan planted 27 flowers.

Question 2. this is simple. Just multiply 5 and 3.

5 x 3 = 15.

Your answer would be Mrs. murphy bought 15 feet of fabric.

Question 3. This is simple...Just multiply 4.3 x 100, or move the decimal over to the right twice and put a 0 where theres an empty space.

4.3 x 100 = 430

Your answer is the line is 430 centimeters wide.

Question 4. This is simple, just multiply 2.9 x 100 or move the decimal over to the right twice and put a 0 where there's an empty space.

2.9 x 100 = 290

Your answer is The book is 290 milliliters wide.

Question 5. This is also very simple. This time we add a decimal twice to the left. Put the decimal next to the 0 in 210.

210.

21.0

2.10

Your answer would be the bookshelf is 2.1 meters tall.

Question 6. This is simple, again... Just multiply 13 and 2.54.

2.54 x 13 = 33.02

Your answer would be c, 33.02 cm.

Question 7. This is simple, again... Just multiply 13 and 2.54.

2.54 x 13 = 33.02

Your answer would be c, 33.02 cm.

6 0

3 years ago

with relavant examples discuss the intangible business property that is protected by law and which an entrepreneur should consid

Stels [109]

Answer:

While intangible assets have no physical shape or size, they pack lots of power for your business. If you and your employees have worked hard to create trademarks, patents, or copyrights, for example, you can use these assets in several ways to grow your business or increase business profit.

BUSINESS LAW & TAXES GLOSSARY

Making Intangible Assets Work For Your Business

•••

Flip

BY JEAN MURRAY

Updated October 27, 2018

What are Intangible Assets?

An Intangible Asset is a business asset which has no material substance. Intangible assets can be found in all areas of a business. For example:

Technology, like technical manuals, engineering processes, computer software

Customer relationships,

Contracts, franchises, licenses, and permits

Trained and competent workers (called workforce in place)

Some intangible assets are intellectual property. That is, they are specifically created by individuals and protected by laws from being stolen. Examples of intellectual property are trademarks, service marks, copyrights, and patents.

Customer relationships, including goodwill (the value of customer relationships),

Trade secrets, brand recognition, and proprietary business processes ("the way we do things in this company")

Marketing and advertising campaigns and materials

Location-related assets like land, water, and mineral rights.

How to Use Intangible Assets

Selling Intangible Assets

Some general intangibles, like business processes, can be packaged and sold. Create and sell a book on "the way we do things at XYZ company," with examples of how you did it. You don't have to give away all of your trade secrets, though. Just those that can be translated into other types of businesses.

You can also sell a copyright. Musicians often sell a music copyright, but more often they license the rights. These licenses are called Creative Commons Licenses.

Use Them to Increase Value in the Sale of Your Business

Goodwill is an important asset in the sale of a business. In a business sale, particularly one in which you are selling the business as a going concern, goodwill is the difference between the fair market price or book value of all the business assets and the sale price.

Other general intangible assets and intellectual property may also be valued and included in the selling price of a business.

License or Assign Assets Like Patents, Copyrights, and Trademarks

If your business has patents or trademarks, you can license the patent rights to someone, who can produce products from them. You can receive royalties on a continuing basis and set up criteria for use of the products made from these assets.

You may also want to consider assigning an asset, as a permanent sale.

Amortize Intangible Assets

Amortization is a calculation which allows you to spread out the expense of an intangible asset over its useful life, instead of capitalizing it in just one year. Amortization works like depreciation. Having expenses in several years allows you to reduce your business income during these years, thus reducing your business tax bill.

Under Section 197 of the Internal Revenue Code, the IRS designates certain intangible assets that can be amortized over 15 years and other intangible assets which cannot be amortized. The complete list is on Section 197 Intangible Assets.

Getting Help from an Intellectual Property Attorney

For most of these ways to use your intangible assets, you will need to hire a special attorney called an intellectual property lawyer, who can help you navigate the tricky world of selling and licensing.

Disclaimer: The information in this article, and on this site, is general in nature and is not intended to be tax or legal advice. Every business is unique, and intellectual property laws and regulations change frequently. Seek legal and tax advice before making decisions that might affect your business.

3 0

3 years ago

Read 2 more answers

Which idea forms the basis of double-entry accounting?

valina [46]

Answer:

A. For every single transaction, at least two accounts will be

affected.

Explanation:

Double-entry accounting is a record-keeping method where a transaction is recorded in a minimum of two accounts. There is no upper ceiling on the actual number of accounts that may be used in a transaction.

Every account has two columns, with debits on the left and credit entries on the right. The aggregate of the debit entries must equal the result of all credit entries. If this happens, the transaction has balanced. If not, the transaction is "out of balance."

5 0

3 years ago

Which of the following is NOT a reason to consider a decline in the fairvalue of a debt investment to be "other than temporary"?

hjlf

The investor determines that a credit loss exists on the investment

4 0

3 years ago

The work process involved in providing the service involves the physical presence of the customer in the system. Group of answer

anyanavicka [17]

The work process involved in providing the service involves the physical presence of the customer in the system is false.

Explanation:

The Customer contact refers to the physical presence of the customer in the system.
creation of the service refers to the work process involved in providing the services.
There is minimum waste of time and resources in delivering the service.
service process can be enhanced by the customer who takes a greater role in the production of the service.

7 0

4 years ago