1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anvisha [2.4K]
3 years ago
10

Foyert Corp. requires a minimum $30,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid mont

hly). Any excess cash is used to repay loans at month-end. The cash balance on October 1 is $30,000, and the company has an outstanding loan of $10,000. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow.
October November December
Cash receipts $ 110,000 $ 80,000 $ 100,000
Cash payments 120,000 75,000 80,000
Prepare a cash budget for October, November, and December. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.)
Business
1 answer:
igor_vitrenko [27]3 years ago
8 0

Answer:

From the attached excel file, we have:

a. Ending Cash Balance:

October = $30,000

November = $30,000

December = $34,546

b. Loan Balance End of Month:

October = $20,100

November = $15,301

December = $0

Explanation:

Note: See the attached excel file for the cash budget for October, November, and December.

In the attached excel file, the following calculations are made:

October additional loan = Minimum required cash balance - October Preliminary cash balance = $30,000 - $19,900 = $10,100

November Loan Repayment = November Preliminary cash balance - Minimum required cash balance = $34,799 = $30,000 = $4,799

Download xlsx
You might be interested in
Tattoo Tax Arkansas imposes a 6% tax on tattoos and body piercings to discourage this behavior, meaning that the people of Arkan
jenyasd209 [6]

Answer:

c

Explanation:

customers surplus is going to decrease due to the tax increase, some of the customers may not afford and that may affect Arkanas financial performance

6 0
3 years ago
Is there a company in a specific industry that can get by without having any customer service? If so, why and how does that make
Artyom0805 [142]

Answer:

No

Explanation:

Customer service has a great impact on every business, every company must train it's staff on how to listen to customers and attend to their needs in a polite and professional manner.

A great customer service will keep customers happy and satisfied, this will in turn make them want to come back to do more business. A satisfied customer will go extra length to recommend others to the company but unsatisfied customer that feels that his needs weren't addressed properly or his request wasn't attended to, such customer will not likely but from the company and also bad mouth the company to others and this will leave a great impact on the company growth.

In summary, no company in a specific industry would survive or get by without having customer service as this is part of what makes a company grow.

4 0
3 years ago
Young Company is beginning operations and is considering three alternatives to allocate manufacturing overhead to individual uni
ycow [4]

Answer:

d. All ending inventory balances are zero.

Explanation:

Manufacturing overhead is an indirect cost which occurs when the production is done. Examples are Depreciation, Repairs and Maintenance etc.

All ending inventory balances are zero is the correct option because there is no opening balance and any change in net income is recorded in the balance sheet so, there will be no closing balance.

All production costs approach those costs that were budgeted, The sales mix does not vary from the mix that was budgeted and  All manufacturing overhead is a fixed cost are all incorrect.

8 0
3 years ago
When loans are amortized, monthly payments are ________ , while the interest portion of the monthly payment ________ and the pri
vitfil [10]

Answer:

Constant, Decreases, Increases

Explanation:

4 0
3 years ago
Suppose the European Parliament is considering legislation that will decrease tariffs on agricultural products imported from the
VMariaS [17]

Answer:

€2,500 million

Explanation:

Data provided as per the requirement of estimated benefit to the population is here below:-

Benefit of the tariff reduction = €5

Size of population = €500 million

The computation of estimated benefit to the population is shown below:-

Estimated benefit to the population = Benefit from tariff reduction × Size of population

= €5 × €500 million

= €2,500 million

Therefore for computing the estimated benefit to the population we simply applied the above formula.

4 0
3 years ago
Other questions:
  • To be​ successful, why should companies try to adopt a proactive stance on​ marketing?
    11·1 answer
  • An automated turning machine is the current constraint at Jordison Corporation. Three products use this constrained resource. Da
    14·1 answer
  • What is a realistic goal
    6·2 answers
  • Innovative Consulting Co. has the following accounts in its ledger: Cash, Accounts Receivable, Supplies, Office Equipment, Accou
    15·1 answer
  • Using reasonable safeguards to protect phi from being accidentally released to those who do not need access to the information d
    11·1 answer
  • Many areas of sales promotions are regulated by the _____ through the marketing practices division of the bureau of consumer pro
    14·1 answer
  • American Optical Corporation provides a variety of share-based compensation plans to its employees. Under its executive stock op
    15·1 answer
  • Proponents of diversity management contend that diversity-related initiatives can help Canada with enlarging its global markets.
    11·1 answer
  • Last year, a corporation purchased an office building for $220,000, of which $30,000 was allocated to the land on which the buil
    12·1 answer
  • What happens when supply exceeds demand?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!