subject
Business, 17.07.2020 01:01 abby986

The owner of a building supply company has requested a cash budget for June. After examining the records of the company, you find the following: A. Cash balance on June 1 is $736.
B. Actual sales for April and May are as follows:
April May
Cash sales $10,000 $18,000
Credit sales 28,900 35,000
Total sales $38,900 $53,000
C. Credit sales are collected over a three-month period: 40% in the month of sale, 30% in the second month, and 20% in the third month. The sales collected in the third month are subject to a 2% late fee, which is paid by those customers in addition to what they owe. The remaining sales are uncollectible.
D. Inventory purchases average 64% of a month's total sales. Of those purchases, 20% are paid for in the month of purchase. The remaining 80% are paid for in the following month.
E. Salaries and wages total $11,750 per month, including a $4,500 salary paid to the owner.
F. Rent is $4,100 per month.
G. Taxes to be paid in June are $6,780.
The owner also tells you that he expects cash sales of $18,600 and credit sales of $54,000 for June. No minimum cash balance is required. The owner of the company doesn't have access to short-term loans.
Prepare a cash budget for June. Include supporting schedules for cash collections and cash payments. Round calculations and final answers to the nearest dollar.

ansver
Answers: 2

Other questions on the subject: Business

image
Business, 22.06.2019 10:10, sydc1215
At the end of year 2, retained earnings for the baker company was $3,550. revenue earned by the company in year 2 was $3,800, expenses paid during the period were $2,000, and dividends paid during the period were $1,400. based on this information alone, retained earnings at the beginning of year 2 was:
Answers: 1
image
Business, 22.06.2019 23:20, kmcgregor4155
2. the external environment (connect)choose whether each example belongs in the general, task, or internal environment. exampleenvironmenta worldwide recession task environment / general environment / internal environmentlocal mothers asking their community grocery store to carry no-salt cheerios-type cereal for their babies task environment / general environment / internal environmentchoose the phrase that best completes the following sentence. the relationship between the task environment and the general environment is best described as: a one-way system: changes in the task environment affect the general environment, but changes in the general environment do not affect the task environment. an open system: changes in the task environment affect the general environment, and changes in the general environment affect the task environment. a one-way system: changes in the general environment affect the task environment, but changes in the task environment do not affect the general environment. a closed system: changes in the general environment do not affect the task environment, and changes in the task environment do not affect the general environment.©bloomberg via getty imagesmanagement in the newsin april 2010, the explosion of british petroleum’s (bp) deepwater horizon oil drilling rig and the accompanying oil spill dramatically changed the external environment in which all oil companies operate. the explosion released more oil than any other accidental spill in history and had a huge impact on the waters and surrounding communities of the gulf coast. the conditions that led to the spill, the attempts to stop the spill, and the clean-up and aftermath of the spill prompted debates in the u. s. senate, concern on wall street, and attention from companies all over the world. match each oil spill event with a specific dimension of the general environment. eventgeneral environment dimensionbp stock prices falling 25% during the first month after the oil spill oil seeping into pelican nesting grounds, which will place the brown pelican back on the endangered species list people moving from louisiana to oklahoma to avoid the effects of the spill
Answers: 2
image
Business, 23.06.2019 05:30, alani64
When conducting a swot analysis, information about turnover, profit margins, and staff quality can be used to identify:
Answers: 2
image
Business, 23.06.2019 14:40, jessied2000
Of the four types of discharge, firing a. results from an employee's poor performance⎯that is, from his or her failure to fulfill expectations. b. is for-cause dismissal⎯the result of employee theft, gross insubordination, release of proprietary information, and so on. c. usually refers to the temporary unemployment experienced by hourly employees and implies that they are "subject to recall."d. designates the permanent elimination of a job as a result of workforce reduction, plant closing, or departmental consolidation.
Answers: 2
You know the right answer?
The owner of a building supply company has requested a cash budget for June. After examining the rec...

Questions in other subjects:

Konu
Mathematics, 30.01.2020 23:49