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sineoko [7]
3 years ago
5

Grenoble Enterprises had sales of $50,000 in March and $60,000 in April. Forecast sales for​ May, June, and July are $70,000​, $

80,000​, and $100,000​, respectively. The firm has a cash balance of $5,000 on May 1 and wishes to maintain a minimum cash balance of $5,000. Given the following​ data, prepare and interpret a cash budget for the months of​ May, June, and July.
1. The firm makes 20% of sales for​ cash, 60% are collected in the next​ month, and the remaining 20% are collected in the second month following sale. ​
2. The firm receives other income of $2,000 per month. ​
3. The​ firm's actual or expected​ purchases, all made for​ cash, are $50,000​, $70,000​, and $80,000 for the months of May through​ July, respectively. ​
4. Rent is $3,000 per month.
5. Wages and salaries are 10% of the previous​ month's sales. ​
6. Cash dividends of $3,000 will be paid in June.
7. Payment of principal and interest of $4,000 is due in June. ​
8. A cash purchase of equipment costing $6,000 is scheduled in July. ​
9. Taxes of $6,000 are due in June.
Business
1 answer:
Tanya [424]3 years ago
8 0

Answer:

I used an excel spreadsheet since there is not enough room here.

The company might want to have a minimum cash balance of $5,000 at the end of each month, but only has a cash surplus during May. The company has cash deficits for both June and July, which means that they will probably need to take a loan to keep operating.  

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You wish to retire in 10 years, at which time you want to have accumulated enough money to receive an annual annuity of $13,000
nexus9112 [7]

Answer:

Computation of contribution to retirement fund  

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3 0
3 years ago
What are some of the ways in which the government is involved in the economy? what are the advantages and disadvantages of gover
ArbitrLikvidat [17]
The government can control tariffs and can limit how much can be imported into the usa.
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5 0
3 years ago
A railwya has an operating ratio of 78%. If uts operating revenue were for $ 4.6 B for 205what were its operating expenses
kvasek [131]

Answer:

Its operating expenses were $ 3.588 B

Explanation:

The operating ratio is the ratio of operating expense to the operating or revenue generated.

This ratio is used for comparison of results from the operations of various industries.

Given that the operating ratio of 78% and the operating revenue is $4.6B, the operating expense T may be computed as

78% = T/4.6 * 100%

T = 4.6 *.78

= $3.588 B

4 0
3 years ago
At a price of $60 per bathing suit, what is the quantity demanded of bathing suits?
timofeeve [1]

Answer:

Explanation:

I think your question is missed of key information, allow me to attach the photo question below.

The quantity demanded is 30 units when the price is 60, we use the reconciliation method on the demand line.

3 0
3 years ago
White Company's wages payable account had a beginning balance of $3,757 and an ending balance of $2,070. During the year, wages
borishaifa [10]

Answer:

the amount paid during the year is $16,875

Explanation:

The computation of the amount paid during the year is shown below:

Opening Balance $3,757

Add: Wages expense $15,188

Less: Closing Balance -$2,070

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Hence, the amount paid during the year is $16,875

We simply applied the above formula so that the correct value could come

And, the same is to be considered

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3 years ago
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