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zavuch27 [327]
3 years ago
11

Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget.a. Begi

nning cash balance on June 1, $73,000.b. Cash receipts from sales, $413,000.c. Budgeted cash disbursements for purchases, $268,000.d. Budgeted cash disbursements for salaries, $35,000.e. Other budgeted cash expenses, $57,000.f. Cash repayment of bank loan, $32,000.g. Budgeted depreciation expense, $34,000.A. $94,000.B. $60,000.C. $126,000.D. $149,000.
Business
1 answer:
Wewaii [24]3 years ago
3 0

Answer: $94,000

Explanation:

It should be noted that depreciation expense will not be included on the cash budget because it is non-cash. Therefore, the ending cash balance to be reported on the month ended June 30 cash budget will be:

Beginning cash balance on June 1 = $73,000

Add: Cash receipts from sales = $413,000

Less: Budgeted cash disbursements for purchases = $268,000

Less: Budgeted cash disbursements for salaries = $35,000

Less: Other budgeted cash expenses = $57,000

Less: Cash repayment of bank loan, $32,000

= $73,000 + $413,000 - $268,000 - $35,000 - $57,000 - $32,000

= $94,000

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Identify the accounts below that would be classified as current liabilities on a classified balance sheet. (Check all that apply
evablogger [386]

Answer:

a) Notes payable  = current liabilities

b) Unearned rent  = current liabilities

c) Accounts payable  = current liabilities

d) Taxes payable = current liabilities

Explanation:

Current Liabilities are Company`s Obligations that are due for settlement within a period of 12 months.

All the above Accounts are would be classified as current liabilities as settlement in cash or service <em>(when in comes to unearned rent)</em> is due within 12 months.

6 0
3 years ago
Consider a​ zero-coupon bond with a $1,000 face value and 15 years left until maturity. If the bond is currently trading for $46
nordsb [41]

Answer:

D. 5.19

Explanation:

Zero coupon bond is the bond which does not offer any interest payment. It is issued on deep discount price and Traded in the market on discounted price.

According to given data

Face value = F = $1,000

Year to maturity = n = 15 Years

Current price = P = $468

Yield to maturity = [ ( F / P )^(1/15) ] - 1

Yield to maturity = [ ( $1,000 / 468 )^(1/15) ] - 1

Yield to maturity = 1.0519 - 1

Yield to maturity = 0.0519 = 5.19%

7 0
3 years ago
Read 2 more answers
A trial balance will not balance if a. a journal entry is posted twice. b. a wrong amount is used in journalizing. c. incorrect
svet-max [94.6K]

Answer:

d. a journal entry is only partially posted.

Explanation:

a. a journal entry is posted twice

This will lead to incorrect account balance, but the accounts will balance.

Because we are repeating a correct entry twice, so it will not make the trial balance not balance.

EXAMPLE

inventory 100 debit

cash 100 credit

inventory 100 debit

cash 100 credit

b. a wrong amount is used in journalizing

Similar as before, the accounts are being increased or decreased for a different amount than it should be. But this do not generate any trouble in the trial balance.

EXAMPLE

inventory 80 debit

cash 80 credit

c. incorrect account titles are used in journalizing

using a diferent name will generate impact on another account, the debit and credit imapct will be the same anyway, it will not affect the balance

EXAMPLE

Inventory  80 debit

Taxes payable 80 credit

d. a journal entry is only partially posted.

in this case, the entry is not balanced, generating a difference in total debit and credit.

EXAMPLE

Inventory  80 debit

We are not posting anything on credit, this is not in balance

4 0
3 years ago
Snow White Frame Company's cost formula for its supplies cost is $1,740 per month plus $8 per frame. For the month of March, the
Mademuasel [1]

Answer:

$48 U

Explanation:

Calculation to determine what The activity variance for supplies cost in March would be closest to:

First step is to calculate the Planning supply activity cost

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Planning supply activity cost = 4,912+$1740

Planning supply activity cost = $6652

Second step is to calculate the Actual supply activity cost

Actual supply activity cost = (620 × $8) + $1,740

Actual supply activity cost =4960+$1,740

Actual supply activity cost =$6,700

Now let calculate the Activity variance for supplies cost using this formula

Activity variance for supplies cost = Actual activity cost – Planning activity cost

Let plug in the formula

Activity variance for supplies cost= $6,700 - $6,652

Activity variance for supplies cost= $48 Unfavorable

Therefore The activity variance for supplies cost in March would be closest to:$48 U

3 0
3 years ago
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