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Which of the following is a feature of a good budget?

kiruha [24]

B and C, are bad feautures. A makes more sense, than D, so A should be your answer.

4 0

3 years ago

Read 2 more answers

The following information pertains to Sheridan Company.

DanielleElmas [232]

Answer:

Adjusted Cash Balance at 31 August 2022 = 9654

Explanation:

Bank Reconciliation Statement at August 31, 2022

Cash Balance as per Bank August 31, $7338

Add: Deposit in Transit $3010

Deduct: Outstanding Checks ($694 )

Adjusted Cash Balance $9,654

Cash Balance as per books, August 31, $7374

Add: Receivable collected by bank $2326

Less:Bank Service Charges ($46)

Adjusted Cash Balance $9,654

5 0

2 years ago

Manufacturing overhead data for the production of Product H by Shakira Company are as follows.Overhead incurred for 45,100 actua

Fittoniya [83]

Answer:

Total overhead cost variance $

Standard fixed overhead cost ($9 x 45,100 hrs) 405,900

Less: Actual fixed overhead cost 411,000

Total overhead cost variance 5,100 (A)

Explanation:

Total overhead variance is the difference between standard fixed overhead cost and actual fixed overhead cost. Standard fixed overhead cost is overhead rate multiplied by actual direct labour hours. Overhead rate is the total of variable overhead and fixed overhead rate ($8 + $1 = $9).

8 0

3 years ago

On January 1, 2021, Ozark Minerals issued $10 million of 9%, 10-year convertible bonds at 101. The bonds pay interest on June 30

joja [24]

Answer:

Upon issuance, Ozark should "Credit premium on bonds payable $100,000"

Explanation:

Issue price of bond is ($10 million * $101) = $10,100,000

The face value of the bond = $10,000,000

The premium on bond = $10,100,000 - $10,000,000

The premium on bond = $100,000

Journal entry

Debit Credit

Cash $10,100,000

Premium on bonds payable $100,000

Bonds payable $10,000,000

Conclusion: Upon issuance, Ozark should "Credit premium on bonds payable $100,000"

7 0

3 years ago

Use the following information:Beginning cash balance on March 1, $72,000.Cash receipts from sales, $300,000.Budgeted cash paymen

Lynna [10]

Answer and Explanation:

The preparation of the cash budget for the month of March ended is presented below:

Cash Budget

Particulars Amount ($)

Opening Cash Balance 72,000

Add: Cash Receipts from Sales 300,000

Total Cash Available 372,000

Less:

Cash Payments

Purchases 140,000

Salaries 80,000

Cash Expenses 45,000

Repayment of Bank Loan 20,000

Total Payments -285,000

Closing Cash Balance 87,000

We simply deduct the all payments from the total cash available so that the ending balance of cash could come

8 0

3 years ago