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lys-0071 [83]
3 years ago
5

Zolezzi Inc. is preparing its cash budget for March. The budgeted beginning cash balance is $27,000. Budgeted cash receipts tota

l $104,000 and budgeted cash disbursements total $87,000. The desired ending cash balance is $70,000. The company can borrow up to $90,000 at any time from a local bank, with interest not due until the following month. Required: Prepare the company's cash budget for March in good form. Make sure to indicate what borrowing, if any, would be needed to attain the desired ending cash balance.
Business
1 answer:
Lunna [17]3 years ago
6 0

Answer:

                                                     Zolezzi Inc.

                                          Cash budget for March

                                                       Amount in $'000                          

Opening balance                                27

Add;

Cash receipts                                    104      

Less;

Cash disbursements                       <u>  (87)</u>                

Ending balance                                  44  

Amount to be borrowed                   <u> 26</u>  

Desired ending balance                   <u> 70 </u>                                                                                                

Explanation:

The cash budget a forecast of the expected movement in cash balance. This is as a result of expected cash receipts and disbursements and may be expressed mathematically as

opening cash balance + cash receipts - Cash disbursed = closing cash balance

27 + 104 - 87 = ending balance

Ending balance = 44

Desired ending balance = 70

Amount to be borrowed = 70 - 44

= 26

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1 year ago
Allure Company manufactures and distributes two products, M and XY. Overhead costs are currently allocated using the number of u
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Answer:

Results are below.

Explanation:

<u>First, we need to calculate the allocation rates:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Production setups= (73,000 / 30)= $2,433.33 per setup

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3 years ago
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Answer:

Option (D) is correct.

Explanation:

Imperfect information refers to a situation in which both the parties (i.e buyer and seller) have different information. For example; In a market of second hand car industry, the buyer have less information about the car as compared to the seller. In this type of industry, the seller have more information about the condition and quality of used car.

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