NUBD Corporation has a P35,000 balance of account receivable at the beginning of its budget period. It has budgeted P160,000 credit sales and expects to collect 60% of these during the budget period. What is the ending balance of accounts receivable assuming that all but 15% of the beginning balance is collected during the budget period.
Q: Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: Cash Budget is the Most significant device to plan for and control cash receipts and payments. This…
Q: The treasurer of Calico Dreams Company has accumulated the following budget information for the…
A: Cash Budget: During the period, a cash budget is a budget or plan of anticipated cash receipts and…
Q: Markham Company has completed its sales budget for the first quarter of Year 2. Projected credit…
A: A cash budget is prepared to estimate the total cash received and total cash disbursement. It is…
Q: LaGrange Corporation had the following budgeted sales for the first half of the current year: Cash…
A: The cash collection schedule is prepared to estimate the amount of cash collected during the period.
Q: Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019.…
A: Ending cash balance = Total cash available - Total cash disbursements Ending balance of current…
Q: Western Company is preparing a cash budget for June. The company has $10,600 cash at the beginning…
A: Cash budget was used by the management to plan for expected disbursements and receipts of cash for a…
Q: During December 2021, Hybrid has the following information to prepare its cash budget for January (4…
A: Calculation of amount of collection from credit sales to customer : Particulars Amount For…
Q: Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has…
A: A cash budget is prepared to estimate the total cash received and total cash disbursement on the…
Q: Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: Budgeting - Budgeting is the process of estimating future operations based on past performance. %…
Q: ABC Company is preparing its cash budget for the next month. The accounts receivables at the…
A: The Budget means a forecast which is prepared at the beginning of the period in order to identify…
Q: Tomo, Inc. has prepared its third quarter budget and provided the following data: Jul Aug Sep…
A: Budget is the estimated figures of all revenue and expenses which are prepared for performance…
Q: Roberts Supply, Inc. provides the following data taken from its third quarter budget: Jul Aug…
A: . Cash balance at the end of September = Cash balance at the end of June + Cash receipts in July,…
Q: Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has…
A: The question is based on the concept of Budgeting in cost accounting.
Q: Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has…
A: Cash Budget: It is the predetermined flow of cash which is going to be happened within the entity…
Q: Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has…
A: A cash budget is a statement prepared by the company to determine how much cash they expect to be…
Q: XYZ company is preparing its cash budget for the first quarter of. the year. It has $10,000 in cash…
A: Budgeted total cash payment = Inventory purchase + other operating expenses - depreciation = $25,000…
Q: Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has…
A: Cash budget refers to estimation of periodic expenses and income which mentions prospective cash…
Q: he following is the sales budget for Coore, Inc., for the first quarter of 2019: January…
A: Here in this question, we are required to calculate cash collection schedule. Cash collection…
Q: Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has…
A: Given, Loan is taken at the beginning of the Quarter and paid at the end of the Quarter.
Q: rning the accounts receivable:
A: The cash receipts from account receivable help in determining the cash to be received from the…
Q: Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has…
A: Garden Depot Cash Budget Particulars Ist Quarter 2nd Quarter 3rd Quarter 4th Quarter Year…
Q: he Ohio Company has the following historical pattern on its credit sales: 70% collected in the month…
A: The budget is prepared to estimate the future requirements for the business.
Q: Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has…
A: The question is based on the concept of Cost Management. A cash budget is a forecast of expected…
Q: The following data are from the budget of Ritewell Publishers. Half the company's sales are…
A: PLEASE GIVE A LIKE, your response matters February March April Sources of Cash…
Q: Adeline Sdn Bhd has engaged you to prepare its cash budget for July 2021. The following is the…
A: Cash Budget: It is the estimation of the cash in flows and outflows of an enterprise during a…
Q: The following data are from the budget of Ritewell Publishers. Half the company’s sales are…
A: The question is based on the concept of cash budget of a firm , which is net position of cash as…
Q: 0,000 Selling and administrative expenses 41,400 46,400 Capital additions 250,000 -- The company…
A: Cash Budget: During the period, a cash budget is a budget or plan of anticipated cash receipts and…
Q: In preparing its budget for July 2026, Robinson Company has the following accounts receivable…
A: The term accounts receivable refers to the money that the company is yet to receive from its…
Q: Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has…
A:
Q: MARS PAUTANG Company is preparing its cash budget for the month of June. The following information…
A: Estimated collection in June for Credit sales in June = Estimated credit sales for June x 20% =…
Q: prepare a cash budget
A:
Q: Western Company is preparing a cash budget for June. The company has $10,100 cash at the beginning…
A: The correct answer is company should borrow $6300.
Q: The following data are from the budget of Ritewell Publishers. Half the company’s sales are…
A: The budget is prepared to record the estimated cash payments and collections during the period.
Q: Midus ind has the following data for the month ended on March 31. Prepare cash budget for the month…
A: To identify the expected disbursements and receipts of cash for a given period of time, cash budget…
Q: Ross Corporation makes all sales on account. The June 30th balance sheet balance in its accounts…
A: The account receivables is the amount to be received from the customers during the period. The…
Q: For May, Young Company has budgeted its cash receipts at P125,000 and its cash disbursements at…
A: Cash receipts = P125,000 Cash disbursements = P138,000 Opening cash balance = P17000 Closing balance…
Q: Justin Company's budget includes the following credit sales for the current year: September,…
A: Introduction: The cash collection cycle is the number of days it measures the return accounts…
Q: The Overland Company is preparing its cash budget for the month of June. The following information…
A: Formula: Cash collection = Credit sales x Cash collection %
Q: Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the…
A: Formula: Cash sales = Total sales x cash sales percentage Multiplying total sales with cash sales…
Q: The following data are from the budget of Ritewell Publishers. Half the company's sales are…
A: Sources of cash refer to the origin of the cash flow whereas uses of cash flow refer to the…
Q: In 2021 the company “AROFAH” will prepare a cash budget. The cash receipts and disbursements plan…
A: The question is based on the concept of a cash budget, the budget explains receipts and disbursement…
Q: Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the…
A: Introduction: The cash collection cycle is the number of days it helps to pay accounts receivable.…
Q: Carol's Chocolate Company has prepared its third quarter budget and provided the following data:…
A: Cash budget is a statement prepared to record expected receipts and disbursement of cash during a…
Q: The treasurer of Gateway Co. has accumulated the following budget information for the first two…
A: Budgeting: It is a process of planning the work to be performed. Under this process a formal plan is…
Q: Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: Cash budget is an important budget of the business. It shows all expected cash receipts and cash…
Q: The treasurer of Unisyms Company has accumulated the following budget information for the first two…
A: The cash budget is prepared to record cash receipts and cash payments during the period and estimate…
Q: The treasurer of Calico Dreams Company has accumulated the following budget information for the…
A: Cash sales : March : $450,000 *35% = $157,500 April : $520,000 * 35% = $182,000 Collections of…
NUBD Corporation has a P35,000 balance of account receivable at the beginning of its budget period. It has budgeted P160,000 credit sales and expects to collect 60% of these during the budget period.
What is the ending balance of accounts receivable assuming that all but 15% of the beginning balance is collected during the budget period.
Step by step
Solved in 2 steps
- The beginning cash balance is $20,600. Sales are forecasted at $715,000 of which 70% will be on account. The remainder are cash sales. Sixty percent of credit sales are expected to be collected in the year of sale. Cash expenditures for the year are forecasted at $465,000. Accounts receivable from previous accounting periods totaling $11,000 will be collected in the current year. The company is required to make a $21,500 loan payment and an annual interest payment on the last day of the year. The loan balance as of the beginning of the year is $145,000, and the annual interest rate is 10%. What will be reported as 'cash' on the budgeted balance sheet?The beginning cash balance is $16,500. Sales are forecasted at $820,000 of which 80% will be on account. Seventy percent of credit sales are expected to be collected in the year of sale. Cash expenditures for the year are forecasted at $472,000. Accounts Receivable from previous accounting periods totaling $11,800 will be collected in the current year. The company is required to make a $16,500 loan payment and an annual interest payment on the last day of every year. The loan balance as of the beginning of the year is $90,000, and the annual interest rate is 9%. Compute the excess of available cash over cash disbursements. Excess of available cash over cash disbursements $Foyert Corporation requires a minimum $7,400 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid at the end of each month). Any preliminary cash balance above $7,400 is used to repay loans at month-end. The cash balance on October 1 is $7,400, and the company has an outstanding loan of $3,400. Budgeted cash receipts (other than for loans received) and budgeted cash payments (other than for loan or interest payments) follow. October November December Cash receipts $ 23,400 $ 17,400 $ 21,400 Cash payments 26,100 16,400 14,600 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.)
- Foyert Corporation requires a minimum $7,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid at the end of each month). Any preliminary cash balance above $7,000 is used to repay loans at month-end. The cash balance on October 1 is $7,000, and the company has an outstanding loan of $3,000. Budgeted cash receipts (other than for loans received) and budgeted cash payments (other than for loan or interest payments) follow. (please see picture for other info) October November December Cash receipts $ 23,000 $ 17,000 $ 21,000 Cash payments 25,500 16,000 15,000 Prepare a cash budget for October, November, and December.Foyert Corporation requires a minimum $6,300 cash balance. Loans taken to meet this requirement cost 2% interest per month (paid at the end of each month). Any preliminary cash balance above $6,300 is used to repay loans at month-end. The cash balance on October 1 is $6,300, and the company has an outstanding loan of $2,300. Budgeted cash receipts (other than for loans received) and budgeted cash payments (other than for loan or interest payments) follow. Cash receipts Cash payments October $ 22,300 24,450 November $ 16,300 15,300 December $ 20,300 15,700 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.) FOYERT CORPORATION es Beginning cash balance Add: Cash receipts Total cash available Add: Cash payments for Interest on loan Total cash payments Preliminary cash balance Loan activity Additional loan (loan repayment) Ending cash…In preparing its budget for July 2026, Robinson Company has the following accounts receivable information available: Accounts receivable at June 30, 2026 P 350,000 Estimated credit sales for July 400,000 Estimated collections in July for credit sales in July and prior years. 320,000 Estimated write-off in July for uncollectible credit sales. 16,000 Estimated provision or doubtful accounts for credit sales in July 12,000 What is the projected balance of accounts receivable at July 31, 2026? Group of answer choices
- Karim Corporation requires a minimum $9,800 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid at the end of each month). Any preliminary cash balance above $9,800 is used to repay loans at month-end. The cash balance on July 1 is $10,200, and the company has no outstanding loans. Budgeted cash receipts (other than for loans received) and budgeted cash payments (other than for loan or interest payments) follow. Cash receipts Cash payments July $ 25,800 30,700 August $ 33,800 31,800 September $ 41,800 33,800 Prepare a cash budget for July, August, and September. Note: Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar. Beginning cash balance Total cash available Total cash payments Preliminary cash balance Loan activity KARIM CORPORATION Cash Budget July August September $ 10,200 ProvKarim Corporation requires a minimum $8,100 cash balance. Loans taken to meet this requirement cost 2% interest per month (paid at the end of each month). Any preliminary cash balance above $8,100 is used to repay loans at month-end. The cash balance on July 1 is $8,500, and the company has no outstanding loans. Budgeted cash receipts (other than for loans received) and budgeted cash payments (other than for loan or interest payments) follow. Cash receipts Cash payments Beginning cash balance Prepare a cash budget for July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) Total cash available July August $ 24,100 $ 32,100 28,150 30,100 Total cash payments Preliminary cash balance Loan activity Ending cash balance September $ 40,100 32,100 KARIM CORPORATION Cash Budget $ July Loan balance Loan balance - Beginning of month Additional loan (loan repayment) Loan balance…Karim Corporation requires a minimum $8,800 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid at the end of each month). Any preliminary cash balance above $8,800 is used to repay loans at month-end. The cash balance on July 1 is $9,200, and the company has no outstanding loans. Budgeted cash receipts (other than for loans received) and budgeted cash payments (other than for loan or interest payments) follow. Cash receipts Cash payments Beginning cash balance Add: Cash receipts Total cash available Less: Cash payments for Interest on loan Interest revenue Prepare a cash budget for July, August, and September. Note: Negative balances and Loan repayment amounts (If any) should be Indicated with minus sign. Round your final answers to the nearest whole dollar. Total cash payments Preliminary cash balance Loan activity July $ 24,800 29,208 Ending cash balance August $ 32,800 30,800 Loan balance Beginning of month Additional loan (loan repayment) Loan…
- Karim Corporation requires a minimum $9,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid at the end of each month). Any preliminary cash balance above $9,000 is used to repay loans at month-end. The cash balance on July 1 is $9,400, and the company has no outstanding loans. Budgeted cash receipts (other than for loans received) and budgeted cash payments (other than for loan or interest payments) follow. July August September Cash receipts $ 25,000 $ 33,000 $ 41,000 Cash payments 29,500 31,000 33,000 Prepare a cash budget for July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.)Karim Corporation requires a minimum $8,900 cash balance. Loans taken to meet this requirement cost 2% interest per month (paid at the end of each month). Any preliminary cash balance above $8,900 is used to repay loans at month-end. The cash balance on July 1 is $9,300, and the company has no outstanding loans. Budgeted cash receipts (other than for loans received) and budgeted cash payments (other than for loan or interest payments) follow. Cash receipts Cash payments Beginning cash balance Total cash available Prepare a cash budget for July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) Total cash payments Preliminary cash balance Loan activity July $ 24,900 29,350 Ending cash balance August $ 32,900 30,900 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month KARIM CORP. Cash Budget $ September $ 40,900 32,900 July Loan…Karim Corporation requires a minimum $8,900 cash balance. Loans taken to meet this requirement cost 2% Interest per month (paid at the end of each month). Any preliminary cash balance above $8,900 is used to repay loans at month-end. The cash balance on July 1 Is $9,300, and the company has no outstanding loans. Budgeted cash receipts (other than for loans received) and budgeted cash payments (other than for loan or Interest payments) follow. Cash receipts Cash payments Beginning cash balance Total cash available Prepare a cash budget for July, August, and September. (Negative balances and Loan repayment amounts (If any) should be Indicated with minus sign. Round your final answers to the nearest whole dollar.) Total cash payments Preliminary cash balance Loan activity July $ 24,900 29,350 Ending cash balance August $ 32,900 30,900 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month September $ 40,900 32,900 KARIM CORPORATION Cash Budget $…