All categories

2 years ago

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

Business

1 answer:

sweet-ann [11.9K]2 years ago

6 0

Answer:

D. $53,000.

Explanation:

The computation of the ending cash balance is shown below:

Beginning cash balance $95,000

Add: Receipts

Cash sales $418,000

Total cash receipts (a) $513,000

Deduct: Payments:

Cash payment for purchases -$273,000

Cash payment for salaries -$96,000

Other cash expenses -$58,000

Repayment of bank loan -$33,000

Total cash payments (b) $460,000

Net receipts /( payments) (a) - (b) $53,000

You might be interested in

g Enchancia Inc. reported the following information at its annual meeting: The company had cash worth $3,290,558, accurals of $5

olga55 [171]

Answer:

$5,354,741

Explanation:

assets:

cash $3,290,558

inventory $2,657,360

accounts receivable $577,102

fixed assets $4,019,047

total assets = $10,544,067

liabilities:

accruals $576,944

accounts payable $2,519,541

notes payable $610,904

long-term debt $1,481,937

total liabilities = $5,189,326

equity = assets - liabilities = $10,544,067 - $5,189,326 = $5,354,741

5 0

3 years ago

The telecom industry in the country of Andalus is an industry characterized by the presence of strong network effects, high bran

scoundrel [369]

Answer:

The answer is B.

Explanation:

In the telecom industry, the threat of new entrants is most likely low. Why? - Because:

1. High brand loyalty meaning that the existing customers are unlikely to switch to any competitors be it existing or potential. This will discourage any new entrant.

2. High economies of scale. They are enjoying low cost of inputs with high outputs. New entrants will find it difficult initially to produce at low cost. This will also discourage new entrants.

Also, the presence of strong network effects and proprietary technology among the existing firms will deter new entrants.

6 0

3 years ago

Read 2 more answers

Capacity planning requires demand forecasts for an extended period of time. Forecast accuracy tends to _______ as the forecasti

Aleonysh [2.5K]

Forecasting accuracy tends to decrease as the forecasting horizon increases.
Explanation—
It is harder to forecast far into the future. Accuracy is going to decrease because there are too many variables over more time. It is easier to forecast for just a few days in the future.

8 0

1 year ago

1. All of the following are considered phases of the management process except _____. planning directing controlling executing b

12345 [234]

Answer:

1. Executing

2. Directing

3. Continuous process improvement

Explanation:

According to Managerial Accounting Concepts and Principles

1. All of the following are considered phases of the management process except EXECUTING

2. The process by which managers run day-to-day operations is called DIRECTING

3. CONTINUOUS PROCESS IMPROVEMENT is the philosophy of continually improving employees, business processes, and products.

4 0

2 years ago

An investor owns 60 shares of common stock of a company issuing new shares in a rights offering. The stock trades at $12 per sha

Mkey [24]

Answer:

7 shares and $70

Explanation:

The computation is shown below:

The additional shares is

= 60 shares ÷ 9

= 7 shares

And, the amount of money that have to be paid is

= Additional shares × purchase price

= 7 × $10

= $70

Therefore the same would be considered relevant

4 0

3 years ago