How were the figures under "payment to suppliers" in the cash budget calculated? Also for sales receipts you have $30,800 in september when it should be $25,200?
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How were the figures under "payment to suppliers" in the
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- What is the amount of budgeted cash payments if purchases are budgeted for $420,000 and the beginning and ending balances of accounts payable are $95,000 and $92,000, respectively?A. Discuss the purpose of the cash budget. B. If the cash for the first quarter of the fiscal year indicates excess cash at the end of each of the first two months, how might the excess cash be used?Review the completed master budget and answer the following questions: Is Ranger Industries expecting to earn a profit during the next quarter? If so, how much? Does the company need to borrow cash during the quarter? Can it make any repayments? Explain. (Carefully review rows 74 through 80.)
- In an attempt to better understand RR’s cash position, Johnson developed a cash budget for the first 2 months of the year. She has the figures for the other months, but they are not shown. After looking at the cash budget, answer the following questions: What does the cash budget show regarding the target cash level? Should depreciation expense be explicitly included in the cash budget? Why or why not? What are some other potential cash inflows besides collections? How can interest earned or paid on short-term securities or loans be incorporated in the cash budget? In her preliminary cash budget, Johnson has assumed that all sales are collected and thus that RR has no bad debts. Is this realistic? If not, how would bad debts be dealt with in a cash budgeting sense? (Hint: Bad debts will affect collections but not purchases.)If sales on account are budgeted to be $246,000 for September and $284,000 for October, what are the budgeted cash receipts from sales on account for October?Matthew Young has been working on Sheffield Paints' cash budget for the coming year. Based on his projections for March, the beginning cash balance will be $40,700, cash collections will be $550,000, and cash disbursements will be $584,000. Sheffield Paints desires to maintain a $45,000 minimum cash balance. The company has a 12% open line of credit with its bank, which provides short-term borrowings in $500 increments. All borrowings are made at the beginning of the month, and all repayments are made at the end of the month (in $500 increments). Accrued interest is paid at the time of repayment. (a) Your answer is correct. How much will Sheffield Paints need to borrow from the bank at the beginning of March? Sheffield Paints should borrow $ 38500 %24
- 1. What is the cash receipts expected in October? 2. What is the cash needed in October to pay for food and supplies purchases? 3. What is the Ending Balance of October's cash budget?From the attached photo answer the following: 1. What is the sales collection schedule for the six (6) months showing the accounts receivable at the end of the six months ending June 2021.2.What is he purchase payment schedule for the six (6) months showing discounts received and accounts payable at the end of the six months ending June 2021.3. What is the cash budget including a total column for the three (3) months ending June 2021 (April to June 2021).Using the same above information, what would it look like to complete the following? Schedule of cash payments for direct materials.Cash budget.Budgeted income statement for entire second quarter (not monthly).
- Francis and Company has planned a cash budget for the third quarter of 2004. The cash balance on July 1, 2004 is expected to be an overdraft of $s82,000. Extracts from the sales and purchases budgets are as follows: Budgeted Budgeted Month Sales Purchases May June July August September $800,000 $900,000 $750,000 $650,000 $800,000 $600,000 $550,000 $450,000 $500,000 All sales are on credit and an analysis of the records shows that debtors settle according to the following pattern, in accordance with the credit terms 5/30, i) n90: 50% in the month of sale 30% in the month following sale 20% the following month All purchases are on credit and past experience shows that 80% are settled in the month of purchase in order to take advantage of a 10% prompt settlement ii) discount. The balance will be disbursed in the month after purchase. The credit terms of the suppliers - 10/30, n60. iii) Wages and salaries are expected to be $1,800,000 per annum and are paid monthly. iv) Fixed operating…Nana Kay company must maintain a minimum cash balance of ghc 25000. At the beginning June, the company's cash balance was ghc 17000. Budgeted cash receipts for June are ghc 150000 and budgeted cash disbursement are ghc 201000. Budgeted net income for July totals ghc 11,000. How much will Nana Kay company need to borrow by the end of June?In preparation for the quarterly cash budget, the following revenue and cost information have been compiled. Prepare and evaluate a cash budget for the months of October, November, and December based on the given information: Month Sales Purchases August (actual) P3,000,000.00 P3,500,000.00 September (actual) P4,500,000.00 P2,000,000.00 October (forecast) P1,000,000.00 P500,000.00 November (forecast) P1,500,000.00 P750,000.00 December (forecast) P2,000,000.00 P1,000,000.00 (a) The firm collects 60 percent of sales for cash and 40 percent of its sales one month later. (b) Interest income of P50,000 on marketable securities will be received in December. How much is the total cash receipts in November? A P3,900,000 B) P2,400,000 c) P1,850,000 D) P1,300,000
