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ArbitrLikvidat [17]
3 years ago
14

MC Qu. 110 Southland Company is preparing... Southland Company is preparing a cash budget for August. The company has $17,100 ca

sh at the beginning of August and anticipates $121,000 in cash receipts and $134,600 in cash disbursements during August. Southland Company wants to maintain a minimum cash balance of $10,000. The preliminary cash balance at the end of August before any loan activity is:
Business
1 answer:
Keith_Richards [23]3 years ago
7 0

Answer:

The preliminary cash balance at the end of August before any loan activity is $3,500

Explanation:

For calculating the borrowed amount, first we have to compute the cash available for use and cash payment.

So,

Cash available for use is equals to

= Beginning balance + Cash receipts

= $17,100 + $121,000

= $138,100

And, the cash disbursement is $134,600

So the preliminary cash balance is equals to

= Cash available for use - cash disbursement

= $138,100 - $134,600

= $3,500

Hence, The preliminary cash balance at the end of August before any loan activity is $3,500

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Rock bottom purchases its inventory on trade credit with terms of 2/10 net 45. If the firm waits the full 45 days to pay for the
Lera25 [3.4K]

Answer:

The effective annual rate of interest is 23.45%

Explanation:

Effective annual rate of interest=(1+annual interest)^365/t-1

Annual interest =discount rate/100%-discount rate

discount rate here is 2%

annual interest=2/100-2

                         =2.04%

T is the difference between the discount period of 10 days and credit period of 45 days

45-10=35 days

Effective annual rate of interest=(1+2.04%)^(365/35)-1

                                                      =(1.0204^10.42857143) -1

                                                      = 1.2345  -1

                                                       =0.2345

                                                        =23.45%

8 0
3 years ago
Watson Company has monthly fixed costs of $83,000 and a 40% contribution margin ratio. If the company has set a target monthly i
Rudik [331]

Answer:

$245,000.00

Explanation:

The amount of sales revenue to be made to achieve target profit is computed as follows:

<em>Sales revenue to achieve target income</em>

<em>= Total fixed cost for the period + target profit/ contribution margin</em>

Contribution margin = (Sales - variable cost) / sales   ×  100

The figure has been given as 40% in the question

Sales revenue to achieve target profit = (83,000 + 15,000)/0.4

$245,000.00

Watson Company has monthly fixed costs of $83,000 and a 40% contribution margin ratio. If the company has set a target monthly income of $15,000, what dollar amount of sales must be made to produce the target income?

Sales revenue to achieve target profit = $245,000.00

8 0
3 years ago
In 2006, selected new automobiles had an average cost of $16,000. The average cost of those same automobiles is now $28,000. Wha
larisa [96]

Answer:

Explanation:

%increase is given as = increase/ original prices ×100

Increase = new cost - original cost

The original average cost is $16000,

And the new average cost is $28,000

Then,

Increase = 28000-16000

Increase =$12,000

Then,

%increase=increase/original cost ×100

%increase = 12000/16000 ×100

%increase=75%

The rate of increase of the automobile cost is 75%

7 0
3 years ago
The U.S. government decides that the incomes of dairy farmers should be maintained at a level that allows the traditional family
luda_lava [24]

Answer:

$2.8 billion per year

Explanation:

Currently the amount of surplus milk in the US is really high since the demand per capita for milk has decreased by 40% in the last 50 years. Excess milk is turned into cheese since it doesn't last very long, and the current amount of surplus cheese is 1.4 billion pounds.

If yous need on average 4 pints of milk per pound of hard cheese and 2 pints per pound of soft cheese, that means that the total surplus milk production is between 2.8 and 5.6 billion pints.

If the government is going to purchase that excess milk, then it is going to need at least $2.8 billion per year.

5 0
3 years ago
Q2. Management is equally important to run a political organisation as it is to run an
Alex787 [66]

Answer:

Q2. B

Because a management is basically Base of separation of powers where all organs get work to do

Q3. A

Q4. B

8 0
3 years ago
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