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NISA [10]
3 years ago
15

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:

<em>Monty Company </em>

<em>Cash Budget</em>

<em>                                            January         February</em>

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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Answer:

Debit retained earnings for $15.30 million.

Explanation:

As per the data given in the question,

Declaration of common stock dividend indicates no cash payments, only extra shares issued with rate of stock dividend

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( Being stock dividend was issued at 1% )

Hence, Option (d) Debit retained earning for $15.30 million is correct.

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2 years ago
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3 years ago
Sarah's Muffler Shop has one standard muffler that fits a large variety of cars. Sarah wishes to establish a reorder point syste
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Answer:

Following is the solution for the given problem.

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The crowding-out effect implies that restrictive fiscal policy will increase aggregate demand and employment. lead to a signific
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Answer:

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