Verle, Inc. has a cash balance of $24,000 on April 1. The company is now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows: Cash collections Cash payments: Purchases of direct materials Operating expenses Apr May Jun $24,000 $24,000 $25,000 5,800 4,600 4,600 6,000 3,500 5,300 There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above data, calculate the projected cash balance at the end of May. OA. $60,200 OB. $24,000 OC. $52,100 OD. $55,600
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- Fairview Medical Supply has applied for a loan. First American Bank has requested a budgeted balance sheet as of April 30, and a combined cash budget for April. As Fairview Medical Supply's controller, you have assembled the following information: a. March 31 equipment balance, $52,700; accumulated depreciation, $41,100. b. April capital expenditures of $42,700 budgeted for cash purchase of equipment. c. April depreciation expense, $500. d. Cost of goods sold, 60% of sales. e. Other April operating expenses, including income tax, total $13,400, 30%of which will be paid in cash and the remainder accrued at April 30. f. March 31 owners' equity, $93,600. g. March 31 cash balance, $40,100. h. April budgeted sales, $91,000, 70% of which is for cash. Of the remaining 30%, half will be collected in April and half in May. i. April cash collections on March sales, $29,200. j. April cash payments of March 31 liabilities incurred…Edelmar Corp. has prepared a preliminary cash budget for the third quarter as shown below: Cash Budget Beginning cash balance Plus: Cash collections Cash available Less: Cash payments: Purchases of direct materials July $36,000 $56,000 92,000 Operating expenses Capital expenditures Ending cash balance Aug $17,000 $52,000 $69,000 34,000 41,000 0 $17,000 Subsequently, the marketing department revised its figures for cash collections. New data are as follows: $54,000 in July, $55,000 in August, and $44,000 in September. Based on the new data, calculate the new projected cash balance at the end of July Sep $21,500 47,800 $69,300 9,000 30,500 8,000 $21,500 10,000 30,800 7,700 $20,800Verle, Inc. has a cash balance of $24,000 on April 1. The company is now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows: Cash collections Cash payments: Purchases of direct materials Operating expenses Apr May Jun $24,000 $24,000 $25,000 5,800 4,600 4,600 6,000 3,500 5,300 There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above data, calculate the projected cash balance at the end of May. OA. $60,200 OB. $24,000 OC. $52,100 OD. $55,600
- Jaborosa, Inc., a merchandising company, has provided the following budgeted amounts for the next budget period. Beginning cash balance Cash collections Payments for: Purchases of merchandise inventory Selling and administrative expenses Capital expenditures $30,700 680,000 O A. $(17,700) OB. $710,700 OC. $290,900 O D. $32,300 349,300 70,500 308,600 A minimum cash balance of $30,000 is required to be maintained. The company can borrow in increments of $10,000 as and when required. Assume the company can borrow the needed funds at the end of the period. Calculate the ending cash balance for the budget period. C...Hugo Medical Supply has applied for a loan. Pacific Commerce Bank has requested a budgeted balance sheet as of April 30, and a combined cash budget for April. As Hugo Medical Supply's controller, you have assembled the following information: a. March 31 equipment balance, $52,600; accumulated depreciation, $41,300. b. April capital expenditures of $ 42,400 budgeted for cash purchase of equipment. c. April depreciation expense, $700. d. Cost of goods sold, 60%of sales. e. Other April operating expenses, including income tax, total $14,200, 35% of which will be paid in cash and the remainder accrued at April 30. f. March 31 owners' equity, $92,600. g. March 31 cash balance, $40,300. h. April budgeted sales, $90,000, 70% of which is for cash. Of the remaining 30%, half will be collected in April and half in May. i. April cash collections on March sales, $29,100. j. April cash payments of March 31 liabilities incurred for March…Hasanağa Inc. has a cash balance of $20,000 on April 1, 2015. They are now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows: Apr May JuneCash collections $25,000 $22,000 $20,000Cash payments:Purchases of inventory 5,800 7,000 6,200Operating expenses 3,500 4,600 5,300There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above data, calculate the projected cash balance at the end of April.
- Hasanağa Inc. has a cash balance of $20,000 on April 1, 2015. They are now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows: Apr $25,000 Мay $22,000 June |$20,000 Cash collections Cash payments: Purchases of inventory Operating expenses 5,800 3,500 7,000 4,600 6,200 5,300 There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above data, calculate the projected cash balance at the end of April.Garden Depot is a retaler that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total canh dinbursenenta ist Quarter 2nd Quarter 3rd Quarter 4th Quarter $ 360,000 $ 251,000 $ 210,000 $ 281,000 $ 240,000 $ 241,000 $ 260,000 $ 261,000 The company's beginning cash balance for the upcoming fiscal year will be $26,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments, and interest, should be indicated by a minus sign.) Garden Depot Cash Budget 1st…Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter $ 360,000 $ 400,000 2nd Quarter $ 480,000 $ 370,000 Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: The company's beginning cash balance for the upcoming fiscal year will be $18,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year.…
- Nizwa Inc. is working on its cash budget for June. The budgeted beginning cash balance is $12,000. Budgeted cash receipts total $188,000 and budgeted cash disbursements total $187,000. The desired ending cash balance is $30,000. Prepare the company's cash budget and count the excess (deficiency) of cash available over disbursements for June. BI = 三 三 三三 II !!Delbert, Inc. has prepared its third quarter budget and provided the following data: Jul Aug Sep Cash collections $49,000 $39,500 $46,000 Cash payments: Purchases of direct materials 30,000 22,100 17,600 Operating expenses 12.400 8,500 11,400 Capital expenditures 13,300 24,200 0 The cash balance on June 30 is projected to be $5,300. The company has to maintain a minimum cash balance of $5,000 and is authorized to borrow at the end of each month to make up any shortfalls. It may borrow in increments of $5,000 and has to pay interest every month at an annual rate of 4%. All financing transactions are assumed to take place at the end of the month. The loan balance should be repaid in increments of $5,000 whenever there is surplus cash. How much will the company have to borrow at the end of July? OA. $15,000 OB. $10,000 OC. $5,000 OD. $0Garden Depot is a retaller that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter $ 280,000 $ 344,888 Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Interest 2nd Quarter $ 480,000 $ 314,000 The company's beginning cash balance for the upcoming fiscal year will be $45,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Total financing Ending cash balance Required:…