BUSINESS COLLEGE

Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget. a. Beginning cash balance on June 1, $26,000.
b. Cash receipts from sales, $264,000.
c. Budgeted cash disbursements for purchases, $138,000.
d. Budgeted cash disbursements for salaries, $80,000.
e. Other budgeted expenses, $15,000.
f. Cash repayment of bank loan, $10,000.
g. Budgeted depreciation expense, $25,000.

Answers

Answer 1
Answer:

Answer:

$47,000

Explanation:

The cash budget is a forecast of the company's expected movement in cash considering the expected outflows and inflows. This movements result in a change between the opening and ending cash balance. This may be expressed mathematically as

Opening balance + Cash receipts - Cash disbursed = ending balance

Cash receipts for the period

= $264,000

Cash disbursed

= $138,000 + $80,000 + $10,000 + $15,000

= $243,000

ending balance  = $26,000 + $264,000 - $243,000

= $47,000

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Josh and Alex work as design engineers creating high-end lighting fixtures. After one particularly enlightened afternoon, they decide to follow their dreams and open a cupcake bakery. Please sort their various costs, listed below, into the correct category.a. Implicit Costs b. Not a Cost c. Explicit Costs1. The garage space used for baking that can no longer be rented to a college student2. Advertising space taken out on a social media network3. Supplies like sugar, butter, and baking trays4. The money they pay their neighbor's six year old son to deliver cupcakes to their customers5. The salary Alex earned in his previous job designing light fixtures

Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company’s planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31
Budgeted diving-hours (q) 350
Revenue ($420.00q) $ 147,000
Expenses:
Wages and salaries ($11,500 $130.00q) 57,000
Supplies ($4.00q) 1,400
Equipment rental ($2,200 $25.00q) 10,950
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Required:
During May, the company’s actual activity was 340 diving-hours. Compute the flexible budget of activity.

Answers

Answer:

operating income 84740.4

Explanation:

The flexible budget will work out the numbers for a level of activity of 340 units

Revenue $420 x 340 = 142,800

Wages and salaries $11,500 fixed component + $130 x 340 =  55,700

Supplies $4.00 x 340 = 1,360

Insurnace (fixed)   $3,900

Miscellaneous $510 fixed component + $1.44 x 340 = 999,6

Operating Income:

Revenues            142,800

total expenses   (58,059.6)  

operating income 84740.4

Telfer, Inc. reported net income of $2.3 million in 2020. Depreciation for the year was $157,100, accounts receivable decreased $329,900, and accounts payable decreased $302,000. Compute net cash provided by operating activities using the indirect method.

Answers

Answer:

$2,479,600

Explanation:

The computation of the operating activities via indirect method is shown below:

Cash flow from operating activities

Net income = $2,300,000

Add : Depreciation for the year $157,100

Add: Decrease in account receivable $329,900

Less: Decrease in account payable -$302,000

Net cash flow provided by operating activities $2,479,600

Trowel Corp. has outstanding accounts receivable totaling $13,000,000 as of December 31 and sales on credit during the year of $48,000,000. There is also a credit balance of $24,000 in the allowance for doubtful accounts. If the company estimates that 6% of its outstanding receivables will be uncollectible, what will be the amount of bad debt expense recognized for the year

Answers

Answer:

$756,000

Explanation:

Allowance for Bad Debts opening        ($24,000)

Allowance for Bad Debts Closing         $780,000

(13,000,000)*6%

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Answers

Answer:

A lot of information is missing, so I looked for similar questions:

  • 1,064 yd of fencing is available

since 1,064 is the perimeter and we have a rectangle, we can write the perimeter equation as: 2L + 2W = 1,064

area = L · W

2W = 1,064 - 2L

W = 532 - L

now we replace in the area equation:

area = (532 - L) · L = -W² + 532W (quadratic equation format)

the value of L as our X coordinate:

L = 532 / 2 = 266

W = 532 - 266 = 266

area = -(266)² + (532 x 266) = -70,756 + 141,512 = 70,756 sq yards

or

area = 266 · 266 = 70,756 sq yards

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ne year ago, a U.S. investor converted dollars to yen and purchased 100 shares of stock in a Japanese company at a price of 3,150 yen per share. The stock's total purchase cost was 315,000 yen. At the time of purchase, in the currency market 1 yen equaled $0.00952. Today, the stock is selling at a price of 3,465 yen per share, and in the currency market $1 equals 145 yen. The stock does not pay a dividend. If the investor were to sell the stock today and convert the proceeds back to dollars, what would be his realized return on his initial dollar investment from holding the stock

Answers

Answer:

realized loss = -20.31%

Explanation:

stock price ¥3,150, total operation ¥315,000

in US dollars = ¥315,000 x $0.00952 = $2,998.80

current market price ¥3,465, total operation ¥346,500

in US dollars = ¥346,500 / ¥145 = $2,389.66

realized loss = (current value in US dollars - initial investment) / initial investment = ($2,389.66 - $2,998.80) / $2,998.80 = -20.31%

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A company has total fixed costs of $180,000 and a contribution margin ratio of 30%. How much sales are necessary to break even? a) $540,000
b) $600,000
c) $54,000
d) $126,000

Answers

Answer:

b) $600,000

Explanation:

The break-even sales can be regarded as sales value in which the result makes the firm to report zero profit.

Total fixed costs was given from the question as ( $180,000)

The Contribution margin ratio was give from the question as ( 30%)= 0.3

✓break even point can be calculated as ratio of Total fixed costs to Contribution margin ratio. This can be expressed as

break even point=[Total fixed costs ]/ [ Contribution margin ratio.]

Substitute,

break even point= [ $180,000]/ [0.3]

=$600,000
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