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Tamiku [17]
3 years ago
5

Cash receipts $40,000Beginning cash balance $10,000Cash Payments $48,000Desired ending cash balance $7,000If there is a cash sho

rtage, the company borrows money from the bank. All cash is borrowed at the beginning of the month in $1,000 increments. Interest is paid monthly on the first day of the following month. The interest rate is 1% per month. The company had no debt before January 1st. What is the amount of interest paid in February? Please show all work and explanation
Business
1 answer:
Advocard [28]3 years ago
7 0

Answer:

$50

Explanation:

For computing the interest amount, first we have to determine the how much cash is available and how much funding is required which is shown below:

The cash available would be

= Beginning cash balance + expected cash receipts - expected cash disbursements

= $10,000 + $40,000 - $48,000

= $2,000

Now the funding amount would be

= Ending cash balance - cash available

= $7,000 - $2,000

= $5,000

So, the interest would be

= $5,000 × 1%

= $50

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Explanation:

here are the options to this question :

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Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the
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Answer:

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b. $31,242,500

Explanation:

The computation of the fixed cost and the variable cost per unit by using high low method is shown below:

Variable cost per units = (High total cost - low total cost) ÷ (High units produced - low units produced)

= ($32,120,000- $25,100,000) ÷ (120,000 units - 80,000 units)

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Now the estimated total cost is would be

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