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vovikov84 [41]
3 years ago
14

Santos Co. is preparing a cash budget for February. The company has $18,000 cash at the beginning of February and anticipates $6

6,000 in cash receipts and $116,000 in cash disbursements during February. What amount, if any, must the company borrow during February to maintain a $5,000 cash balance? The company has no loans outstanding on February 1. (Negative cash balances, if any, should be indicated with minus sign.)
Business
1 answer:
DaniilM [7]3 years ago
3 0

Answer:

$5,000

Explanation:

The computation of Ending Cash balance is shown below:-

Financing

Preliminary cash Balance = Beginning cash balance + Cash receipt - Cash Disbursement + Financing

= $18,000 + $66,000 - $116,000

= -$32,000

Financing = Preliminary cash Balance + Minimum Cash Balance Required

= $32,000 + $5,000

= $37,000

Ending cash balance = Financing - Preliminary cash Balance

= $37,000 - $32,000

= $5,000

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Answer:

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7 0
3 years ago
Employees are required to take vacations. 2. Any member of the sales department can approve credit sales. 3. Paul Jaggard ships
aliina [53]

Answer:

1. <em>This is an example of the practice of good human resource principles</em>

<em>2.This is an example of poor establishment of responsibilities</em>

<em>3. This is an example of lack of segregation of duties</em>

<em>4. This is an example of independent internal verification</em>

<em>5. This is an example of the practice of physical control</em>

<em />

Explanation:

1. Employees are required to take vacations.

<em>This is an example of the practice of good human resource principles</em>

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2. Any member of the sales department can approve credit sales.

<em>This is an example of poor establishment of responsibilities</em>

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3. Paul Jaggard ships goods to customers, bills customers, and receives payment from customers.

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4. Total cash receipts are compared to bank deposits daily by someone who has no other cash responsibilities.

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5. Time clocks are used for recording time worked by employees.

<em>This is an example of the practice of physical control</em>

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