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zubka84 [21]
3 years ago
5

Jubilee's Bakery is budgeting cash for 2017. The cash balance at December 31, 2016, was $6,000. Jubilee's Bakery budgets 2017 ca

sh receipts at $81,000. Estimated cash payments include $44,000 for inventory, $34,000 for operating expenses, and $15,000 to expand the store. Jubilee's Bakery needs a minimum cash balance of $13,000 at all times. Jubilee's Bakery expects to earn net income of $76,000 during 2017. What is the final result of the company's cash budget for 2017?
A. Must arrange new financing for $19,000
B. There is $19,000 available for additional investments.
C. Pay off $38,000 of debt.
D. There is $38,000 available for additional investments.
Business
1 answer:
marusya05 [52]3 years ago
4 0

Answer: B. There is $19,000 available for additional investments.

Explanation:

Cash Receipts both Estimated and available

= Beginning balance + budget receipts

= 6,000 + 81,000

= $87,000

Cash payments

= 44,000 + 34,000 + 15,000

= $93,000

Additional financing required = Cash receipts - Cash payment - minimum cash balance

= 87,000 - 93,000 - 13,000

= -$19,000

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No, Larry will not accumulate enough money

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To determine whether or not Larry will be able to accumulate enough money to buy the boat, we need to work out the future value of he investment

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<em>So we work out the future value of Larry's investment:</em>

FV  = PV × ( (1+r)^n -1)/r

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At the end of the fifth year he would have only accumulated $24,420.40

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3 years ago
Duo, Inc., carries two products and has the following year-end income statement (000s omitted): Product AR-10 Product ZR-7 Budge
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Budgeted sales units                               3,600

Actual sales units                                     <u> 5,000 </u>

Sales volume                                             1,400

Standard profit per unit                          <u>  × $1.7</u>

Sales volume variance                          <u>  2,380 </u>Favorable

Sales volume variance $2,380 favorable

The net effect on profit of AR-10's sales is that it will increase profit by $2,380

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