567 Beginning cash balance8 Collections:910Cash collected from customersTotal cash available1112 Less Disbursements:131415161718192021222324 Financing:25Borrowing26Amount to Borrow to pay interest on loan27Total Borrowings2835Repayment of principal (outflows)3637Interests (outflows)38 Net Financing (interest and principal)39Plus: Minimum cash balance4041 Ending Cash Balance4243 Short-Term Borrowing Balance44 Information45 Minimum Cash Balance46 Borrowings and Repayment of Principal in Multiples of47 Interest RateMonthly Rate4849EnCash paid out for inventory purchases.Cash paid for S & A expensesCash paid for equipment purchasesCash paid for dividendsTotal disbursementsMinimum cash balanceTotal Cash NeedsYExcess (deficiency) of cash available over needs??????October$42,000150,500$192,500151,75884,60010,0000$246,35810,000$256,358($63,858)$64,0000$64,000$10,0001,00012%0.01 Orange Airline has a frequent flyer program that rewards customers with frequent flyer miles based on amountspaid for flights. A customer purchases a ticket for $400 and also earns 2,000 miles based on the price of the ticket.Miles are redeemable at a rate of 20 miles for $1 ($0.05 per mile). The miles may only be redeemed for flights withOrange Airline. Your answers should be whole numbers (no decimal points, no $). What amount of revenue isrecognized when the flight occurs? What amount should be allocated to deferred revenue related to the miles?

Sometimes business entity makes an arrangement of issuing discount coupons or vouchers along with…

Orange Airline. Your answers should be whole numbers (no decimal points, no $). What amount of revenue is recognized when the flight occurs? What amount should be allocated to deferred revenue related to the miles?

Orange Airline. Your answers should be whole numbers (no decimal points, no $). What amount of revenue is recognized when the flight occurs? What amount should be allocated to deferred revenue related to the miles?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The Money Multiplier Process Loan Loan Loan Initial etc. deposit ($100) University Bank Deposit Bank #2 Deposit Bank #3 Bank Deposit #4 Excess reserves: $25 Required reserves: $75 Excess reserves: $6.25 Required reserves: $18.75 Excess reserves: $1.56 Required reserves: $4.69 Excess reserves: $0.39 Required reserves: $1.17 a. What volume of loans can the banking system in the figure support? b. If the reserve requirement were 80 percent rather than 75 percent, what would the system's lending capacity be?
C. P177.60 d. P29.60 P74.40 P300 P620 30% e. 4. Find the (a) cash discount and (b) net amount due if the following invoices are paid within the discoun period. Net invoice price P3,265 Net amount due Terms of payment 3 п Cash discount 10'30 P 1,342 15'60 2 n P985 5'15 5. Find the (a) deadline for discount period, (b) deadline for credit period, (c) cash discount and (d) amount due for the following cases. Deadline of discount Net Deadline of credit Invoice Terms of Cash Invoice date amount due amount payment discount period period 1 n P 1,675 Jan. 15 15'45 P645 Feb. 25 10'30 1n P 895 March 12 10'45 3 2 P785 April 22 . 15'20'90 6. The net invoice price of a wall clock is P287.00. If the discount granted was 18%, find: a. Net invoice price rate b. List price C. Discount 7. The net invoice price of a dining table is P6,187.50, representing 75% of the list price. Find: a. List price b. Discount
Balance sheet ($ million) Cash $10 50 Loans Securities 15 Deposit Equity $68 7 The bank is expecting a $15 net deposit drain. Show the bank's balance sheet if: a. The bank purchases liability to offset this expected drain. b. The bank uses the asset side liquidity to finance this expected drain.
7. How much is the cash shortage or overage as of December 31, 2021? Indicate whether shortage or overage. A. no shortage B. shortage of P500 C. overage of P500 D. shoratge of P4,500 8. How much petty cash fund shall be shown as part of the Cash balance as of December 31, 2021? * A. 35,000.00 B. 45,000.00 C. 53,500.00 D. 38,500.00
1. A company makes a sale to a customer on credit and borrows cash (70-90% of the amount of sales) from a bank using receivables as security. When the company receives the customer payment, it sends this money to the lender. This transaction is an example of what? Factoring with recourse Securitization Collateralized borrowing Nonrecourse factoring 2. Which of the following statements about the direct and indirect methods for presenting Cash Flow Statement is NOT true? According to the indirect method, cash flows begin with net income or loss and is followed by subsequent additions to or deductions from that amount for non-cash revenue and expense items, resulting in cash flow from operating activities. The direct method is based on use of actual cash inflows and outflows from a company’s operations. Using direct and indirect methods leads to different amounts shown as cash flow from operations, investing, and financing activities.…
Given the following data; TOTAL SALES OMR 250000 CASH SALES OMR 125000 SALES RETURN OMR 5000 OPENING SUNDRY DEBTORS OMR 20000 CLOSING SUNDRY DEBTORS OMR 10000What will be the Net credit sales? a.OMR 245000 b.OMR 200000 c.OMR 125000 d.OMR 120000
1. If the beginning cash balance is P15,000, the required ending cash balance is P12,000, and cash disbursements are P125,000, cash collection from customers are P90,000, the company must: -borrow P32,000 -borrow P20,000 -borrow P8,000 -borrow P38,00
Assets Cash Securities Loans Other Total Non-interest Income Non-Interest Expense Provision for Loan Loss Taxes Net Income (NI) Interest Income on Loans Interest Income on Securities Interest Expense 58.04% 6.12% $850 1,925 5,400 The bank's asset utlilization ratio (AU) is 5.46% 975 3.74% $9,150 18.60% Liability and Equity Deposits Other Borrowing Equity Total Income Statement $450 95 246 78 Use the following formula for the operating income: Operating income = Interest revenue + Noninterest income - Interest expense - Loan loss provisions 112 35 115 $115 $6,475 1,645 1,030 $9.150
Prepare Statement of Cash Flow for Gangsa Perak Sdn Bhd for the ended 31 December 2019. 3. The following details taken from the books of DIDI Sdn Bhd for the year ending 31 December 2020. DIDI Sdn Bhd Statement Profit or Loss for the year ending 31 December 2020 (extract) RM Gross profit Add: Discount received Profit on sale of van RM 44,700 410 620 1.030 45,730 Less: Expenses Motor expenses Wages General expenses Bad debts Increase in allowance for doubtful debts 1,940 17,200 830 520 200 1.800 Depreciation : van 22.490 23,240 Statement of Financial Position as at 31 December 2019 2020 RM RM RM RM Non-current Assets Vans at cost less Depreciation 15,400 (5,300) 10,100 8,200 (3.100) 5,100 Current Assets Inventory Trade accounts receivables less provision* Bank 18,600 8,200 24,000 6,900 720 410 27,210 37,310 31,620 36,720 Financed by: Capital account : Opening balance Add : Net Profit 17,210 21,200 21,410 23.240
Exhibit 12-4 Balance SheetBANK XYZ($ millions) Assets Liabilities Required Reserves $ 30 Checkable Deposits $ 250 Excess Reserves 0 Nontransaction Deps 350 Loans 700 Borrowings 25 Securities 140 Bank Capital (A) Refer to Exhibit 12-4. How much bank capital does Bank XYZ have (i.e. what dollar amount belongs in blank (A)? Refer to Exhibit 12-4. What is the required reserve ratio?
QS 16-17 (Algo) Computing financing cash outflows LO P3 A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable ces Total current liabilities Notes payable (long-term) Total liabilities Equity 2021 2020 $ 72,900 31,300 $ 18,100 38,400 65,600 72,100 4,000 3,300 131,900 173,800 80,600 (12,500) $ 241,900 $ 11,400 93,500 (7,100) $ 218,300 $ 16,100 6,800 3,800 1,200 2,100 19,400 22,000 24,800 55,800 44,200 77,800 170,300 27,400 134,800 5,700 Total liabilities and equity $ 241,900 $ 218,300 CRUZ, INCORPORATED Income Statement Common stock, $5 par value Retained earnings For Year Ended December 31, 2021 $ 373,800 240,600 Sales Cost of goods sold Gross profit Operating expenses (excluding…
4567899 Cash flows: Cash collected from clients 6 Cash disbursements: 15 16 10 11 Balance Sheet information 12 Accounts receivable - End of year 13 Accounts payable - End of year 14 Payables-Advertising Payables - Utilities Salaries paid to employees for services rendered during the year Advertising Utilities Payment of rent Accounts payable total A 17 18 Additional information: 19 20 21 22 Required: 23 There were no anticipated bad debts on receivables. The rent payment was for a two-year period, year 2 and year 3. B Year 1 $20,000 3,000 800 $3,800 24 1. Calculate the net operating cash flow for years 2 and 3. 25 2. Prepare an income statement for each year according to the accrual accounting medit Year 2 Year 2 $260,000 180,000 15,000 8,000 80,000 Year 2 $35,000 4,000 1,200 $5,200 D Year 3 $400,000 Year 3 78724 210,000 22,000 6,000 0 Year 3 2 years $18,000 2,000 0 $2,000 E