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3 years ago

When preparing the cash budget, all the following should be considered except

Business

1 answer:

klasskru [66]3 years ago

7 0

Answer:

Instructions are below.

Explanation:

Giving the following information:

Accounts receivable= $296,000

Sales on January= $860,000

First, we need to determine the cash collection for January:

Sales on account from previous months= 296,000

Sales on account January= (860,000*0.8)*0.75= 516,000

Sales in cash January= 860,000*0.2= 172,000

Total cash collection= $984,000

Beginning inventory= $8,000

Ending inventory= $9,400

Cost of goods sold= $10,260

To calculate the budgeted production, we need to use the following formula:

Production= sales + desired ending inventory - beginning inventory

Production= 10,260 + 9,400 - 8,000= $11,660

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On September 1, 2021, Hiker Shoes issued a $112,000, 8-month, noninterest-bearing note. The loan was made by Second Commercial B

Dahasolnce [82]

Answer: 11.88%

Explanation:

Hiker's effective interest rate on this loan will be calculated as:

Interest = Amount × Discount rate × 8/12

= 112000 × 11% × 8/12

= 112000 × 0.11 × 0.667

= 8217.44

= 8217 approximately

Effective interest rate will then be:

= (Interest / Amount - Interest) × 12/8

= 8217 /(112000 - 8217) × 3/2

= 8217/103783 × 1.5

= 0.0791748 × 1.5

= 0.1187622

= 11.88%

6 0

3 years ago

Negative criticism is generally

riadik2000 [5.3K]

Answer:

The answer is A.

Hope I helped! If not I apologize.

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4 years ago

On her first day of work for ABC Company, Justine attended a full-day session with other new employees to learn about company po

alukav5142 [94]

Answer:

Collective and serial

Explanation:

Collective experience refers to a type of experience that happened to all members of a certain social group. (In the case above, ALL new employees have to attended the full-day session).

Serial experiences to a form of similar experiences that happened through an extended period of time. (When we see the excerpt above notice how The event is being done once a week for the next two months)

4 0

3 years ago

A good system of internal control for cash provides adequate procedures for protecting both cash receipts and cash disbursements

kirill [66]

Answer:

The correct answe is A basic guideline for safeguarding cash is to separate the duties of those who have custody of cash from those who keep cash records.

Explanation:

A separate management of the registry and custody functions will reduce fraud, since being two tasks where cash is handled, it is likely that if the same person performs both functions, they will end up diverting money for their convenience, which directly affects in the organization and would waste important resources that can be executed in other important areas.

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3 years ago

Read 2 more answers

company is considering the purchase of a new piece of equipment for $90,000. Predicted annual net cash inflows from the investme

frosja888 [35]

Answer:

The cash payback period is 3.5 years. The answer is True.

Explanation:

According to the given data we have the following:

Year Cash flows Cumulative Cash flows

0 (90,000) (90,000)

1 36,000 (54,000)

2 30,000 (24,000)

3 18,000 (6000)

4 12000 6000

5 6000 12,000

To calculate the cash payback period we use the following formula:

Payback period=Last period with a negative cumulative cash flow+(Absolute value of cumulative cash flows at that period/Cash flow after that period).

Payback period=3+($6,000/$12,000)

Payback period=3.5 years

The cash payback period is 3.5 years. True

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4 years ago