1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Kay [80]
3 years ago
10

Maris Brothers Inc. needs a cash disbursement schedule for the months of April, May, and June following information in its prepa

ration.
Sales:
February = $483,000;
March $525,000;
April $542,000;
May $629,000;
June $657,000;
July $667,000
Purchase: Purchases are calculated as 55% of the next month's sales, 10% of purchases are made in cash, 45% of purchase are paid for 1 month after purchase and the remaining 45% of purchases are paid for 2 months after purchase.
Rent: The firm pays rent of $8,030 per month
Wages and salaries: Base wage and salary cost are fixed at $5,800 per month plus a variable cost of 6.8% of the current month's sales.
Taxes: A tax payment of $ $54,100 is due in June
Fixed asset outlays: New equipment costing $74,000 will be bought and paid for in April.
Interest payments: An interest payment of $30,400 is due in June.
Cash dividends: Dividends of $12,500 will be paid in April
Principal repayments and retirements: No principal repayments or retirements are due during these months.
Business
1 answer:
Citrus2011 [14]3 years ago
6 0

An swer:

June $975,286

April $1,118,052

May $1,076,856

Explanation:

Maris Brothers Inc.Schedule of Projected Cash Disbursements

April May June

Purchases (0.55 x sales)

April $542,000 ×0.55= $298,100

May $629,000×0.55=$345,950

June $657,000×0.55=$361,350

Cash purchases (.10)

April $542,000 ×0.10= $54,200

May $629,000×0.10=$62,900

June $657,000×0.10=$65,700

Payments of A/PLagged 1 month (0.45)

April $542,000 ×0.45= $243,900

May $629,000×0.45=$283,050

June $657,000×0.45=$295,650

Lagged 2 months(0.45)

April $542,000 ×0.45= $243,900

May $629,000×0.45=$283,050

June $657,000×0.45=$295,650

Rent payments

April $8,030

May $8,030

June $8,030

Wages and salaries

April $542,000 ×0.068+5,800= $42,656

May $629,000×0.068+5,800=$48,572

June $657,000×0.068+5,800=$50,476

Tax Payments

June $54,100

Fixed-asset outlays

April $74,000

Interest payments

June $30,400

Cash dividend payments

April $12,500

Total Cash Disbursements

June

($298,100 +$54,200+$243,900+$243,900+$8,030+$42,656+$54,100+$30,400)

=$975,286

April

($345,950+$62,900+$283,050+$283,050+$8,030+$48,572+$74,000+$12,500)

=$1,118,052

May

($361,350+$65,700+$295,650+$295,650+8,030+$50,476)

=$1,076,856

You might be interested in
Suppose that a project has a depreciable investment of $600,000 and falls under the following accelerated depreciation schedule
Alex

Solution :

Depreciation rates   16.67%      16.67%    16.67%     16.67%      16.67%      16.67%

(books)

Depreciation        $100000  $100000 $100000  $100000  $100000  $100000

(books)

Depreciation        $35000    $35000    $35000   $35000   $35000  $35000

tax shield (books)

Depreciation rate   20%            32%         19.20%      11.50%      11.50%     5.80%

(tax)

Depreciation       $120000  $192000   $115200  $69000  $69000  $34800

(tax)

Depreciation     $42000   $67200      $40320    $24150     $24150   $12180

tax shield (tax)

6 0
3 years ago
How to get a workers permit at 14 If you drop out of school in Pennsylvania
lidiya [134]
Well, for one, yes you can work when you are 14 in Pennsylvania.
<span>
To get a work permit, you must go to your school district to get your work permit, as they are responsible. This is for any student in any kind of school (online, traditional, charter, etc)
</span>
hope this helps
8 0
3 years ago
Read 2 more answers
JOURNAL ENTRIES<br>cash withdrawn by the owner for private use Rs. 25000 <br>PLEASE HELP . ​
alexandr1967 [171]

Answer:

he withdrw 25,000

Explanation:

5 0
3 years ago
Read 2 more answers
Suppose the marginal cost curve in the short run first decreases and then increases. If marginal cost is decreasing, _____ must
In-s [12.5K]

Answer: D. marginal product; increasing; average variable cost; decreasing

Explanation:

The Marginal product curve is hump-shaped and the marginal cost curve is U-shaped because these two move in opposite directions to each other.

If the marginal cost is decreasing therefore, the marginal product must be increasing. If the marginal cost is decreasing and the marginal product is increasing, average variable cost will have to fall because every additional unit produced incurs less cost so the average has to fall as well.

6 0
3 years ago
Materials purchased on account during the month amounted to $180,000. Materials requisitioned and placed in production totaled $
Alika [10]

Answer:

Part a. Record the transaction on the day the materials were bought.

Materials Account $180,000 (debit)

Cash $180,000 (credit)

Part b. Record the transaction on the day the materials were requisitioned

Work In Progress $165,000 (debit)

Materials Account $165,000 (credit)

Explanation:

Part a. Record the transaction on the day the materials were bought.

Recognise the Assets of Materials Purchased and Derecognise Cash to depict ouflow of economic benefits

Part b. Record the transaction on the day the materials were requisitioned

De-recognise the Materials applied in Production Process and Recognise the cost in Work In Progress Account

6 0
3 years ago
Other questions:
  • Sales $100,000
    6·1 answer
  • Kindzi Co. has preferred stock outstanding that is expected to pay an annual dividend of $4.67 every year in perpetuity. If the
    13·1 answer
  • a. Perform a Du Pont analysis on Green Valley. Assume that the industry average ratios are as follows: Total margin 3.5% Total a
    14·1 answer
  • Annual depreciation $ 3,000 Annual mileage 14,640 Current year's loan interest $ 710 Miles per gallon 24 Insurance $ 860 License
    9·1 answer
  • Inferior company sells products that are poorly made. jack, who has never bought an inferior product, files a suit against infer
    10·1 answer
  • State 3 reasons why the Lean Canvas model is can be advantageous for entrepreneurs.
    15·1 answer
  • Dream face revealed haha lol
    9·2 answers
  • What was your largest contributor from indoor water? Why? <br><br> I need description
    8·1 answer
  • A competitive environment where there is strong rivalry among sellers, low entry barriers, strong competition from substitute pr
    12·1 answer
  • because research is blank______, it is important to figure out beforehand exactly what problem needs to be solved.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!