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3 years ago

Monty Company expects to have a cash balance of $58,410 on January 1,

Business

1 answer:

hodyreva [135]3 years ago

8 0

Answer:

The ending cash balance of Jan is $ 68145 which is more than $58,410 . We get this balance after the borrowings. The cash balance is $ 18172 for February .

Explanation:

Monty Company

Cash Budget

January February

Beginning Cash Balance 58410 35695

Add Receipts

Collections from Customers 110330 194700

Sale of Marketable Securities 15576 0

Total Receipts 125906 194700

Total available Cash 184316 230395

Less Disbursements

Direct Materials $64,900, $97,350

Direct labor: $38,940, $58,410

Manufacturing overhead: $27,258, $32,450

Depreciation ($1,947) ( $1,947)

Selling and

Administrative expenses: $19,470, $25,960.

Total Disbursements 148,621 212,223

Excess 35,695 18172

Financing

Add Borrowings $32,450 0

Less Repayments 0 0

Ending Cash Balance 68145 18172

Receipts are added to the cash balance to get the total available cash .

Total cash disbursements are subtracted from the total available cash to find the excess amount from which the repayments are subtracted and borrowings are added to get the ending cash balance.

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2 reasons why it is important to learn how to use a budget

My name is Ann [436]

1) So you don't go over your limit
2) learn how to not spend your money all at one tme

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3 years ago

During the year, credit sales amounted to $ 840,000. Cash collected on credit sales amounted to $ 790,000, and $ 18,000 has be

Murrr4er [49]

Answer:

$21,000

Explanation:

During the year, credit sales amounted to $ 840,000.

Cash collected on credit sales amounted to $ 790,000, and $ 18,000 has been written off.

At the end of the year, the company adjusted for bad debts expense using the percent-of-sales method and applied a rate, based on past history, of 2.5%.

The amount of bad debts expense for 2019 is 2.5% x 840,000 = $21,000

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3 years ago

Any agreement should, as a part of the services provided, allow your organization to __________ your disaster recovery plan. Sel

eimsori [14]

Answer:

The correct answer is A. Test.

Explanation:

A test is different from an experiment: Before performing a test, there is an expected result. The test is performed to show this result. In an experiment, the result is open. Very often, tests are performed as part of an experiment.

8 0

4 years ago

A category that is not in the chart of accounts is

Lera25 [3.4K]

Let's look at the Accounting Equation = Assets = Liabilties + Stockholders' Equity

For most businesses, their chart of accounts will include Current Assets (or Short Term Assets) as well as Long Term Assets. An example of a current asset if cash, and a building is a long term asset.

Short term and long term Liabilities are also included too - money you owe. A Note Payable is a long term example, Interest Payable is a short term one.

Stockholders' Equity is one too - these include your stocks, your retained earnings.

But, expect for Retained Earnings, the names of your statements are not. So "Balance Sheet" is not a category, nor is "Cash Flows Statement".

6 0

3 years ago

Read 2 more answers

All of the following choices adhere to the NASAA Model Rule on Unethical Business Practices of Investment Advisers and Federal C

deff fn [24]

Answer:

[C] decides to borrow funds with a promissory note in writing from an individual client.

Explanation:

NASSA Model Rule on Unethical Business Practices of Investment Advisers and Federal Covered Advisers stimulates that an investment adviser could borrow money from either the shareholder or institutional lending facility. However, an investment adviser can not borrow money from an individual client. Therefore, the correct is the option [C].

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3 years ago