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Nuetrik [128]
3 years ago
7

​Fulkron, Inc. provides the following data taken from its third quarter​ budget: Jul Aug Sep Cash collections 67,000 $33,000 $42

,000 Cash​ payments: Purchases of direct materials 33,000 34,000 30,000Operating expenses 12,000 20,000 24,000Capital expenditures 0 33,000 6,000The cash balance on June 30 is projected to be $12,000.Based on the above​ data, calculate the shortfall the company is projected to have at the end of August.
Business
1 answer:
fgiga [73]3 years ago
4 0

Answer:

-$20,000 short fall

Explanation:

July:

Total cash available:

= Cash balance + Cash collections

= $12,000 + $67,000

= $79,000

End cash:

= Total cash available - Cash payments

= $79,000 - (33,000 + 12,000)

= $79,000 - $45,000

= $34,000

August:

Total cash available:

= Cash balance + Cash collections

= $34,000 + $33,000

= $67,000

End cash:

= Total cash available - Cash payments

= $67,000 - (34,000 + 20,000 + 33,000)

= $67,000 - $87,000

= -$20,000 (Short fall)

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3 years ago
Dannon Co. reported its expenses of $35,200 on the cash basis. Corporate records revealed the following information: Beginning p
Elena-2011 [213]

Answer:

Explanation:

The computation of expense amount is shown below:

=  Expenses - adjusted prepaid expense + adjusted accrued expense

= $35,200 - $500 -  $450

=  $34,250

The adjusted prepaid expense is computed by

= Ending balance of prepaid expense - beginning balance of prepaid expense

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3 years ago
Reedy Company reports the following information for 2012:
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Answer:

Ending WIP= $13,500

Explanation:

<u>First, we need to calculate the factory overhead:</u>

Factory overhead= 25,000*0.75= $18,750

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