Question
In: Accounting
Below is the abbreviated cash budget for DEF Pty Ltd. Beginning Cash Balance Estimated Cash Receipts...
Below is the abbreviated cash budget for DEF Pty Ltd.
| Beginning Cash Balance | ||
| Estimated Cash Receipts | 34,000 | |
| Cash Available | 39,000 | |
| Estimated Cash Payments | ||
| Purchases | ||
| Operating Expenses | 13,000 | |
| Payment of Dividend | 10,000 | |
| Total Estimated Cash Payments | ||
| Ending Cash Balance | -4,000 |
(a) Calculate the amount of Beginning Cash Balance, Purchases, and Total Estimated Cash Payments.
(b) What action if any should DEF Pty Ltd take as a result of preparing this budget? Briefly justify your answer.
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ekkarill92 answered 3 years agoRelated Solutions
Below is the abbreviated cash budget for DEF Pty Ltd. Beginning Cash Balance Estimated Cash Receipts...
Below is the abbreviated cash budget for DEF Pty Ltd.
Beginning Cash Balance
Estimated Cash Receipts
34,000
Cash Available
39,000
Estimated Cash Payments
Purchases
Operating Expenses
13,000
Payment of Dividend
10,000
Total Estimated Cash Payments
Ending Cash Balance
-4,000
(a) Calculate the amount of Beginning Cash Balance,
Purchases, and Total Estimated Cash Payments.
(b) What action if any should DEF Pty Ltd take as a
result of preparing this budget? Briefly justify your
answer.
Below is the abbreviated cash budget for ABC Pty Ltd. Beginning Cash Balance 50,000 Estimated Cash...
Below is the abbreviated cash budget for ABC Pty Ltd.
Beginning Cash Balance
50,000
Estimated Cash Receipts
Cash Available
390,000
Estimated Cash Payments
Purchases
210,000
Operating Expenses
Office Equipment Purchases
50,000
Total Estimated Cash Payments
Ending Cash Balance
40,000
(a) Calculate the amount of Estimated
Cash Receipts, Operating Expenses, and Total Estimated Cash
Payments.
(b) What action if any should ABC Pty
Ltd take as a result of preparing this budget? Briefly justify your
answer.
Based on the data presented in the Spreadsheet below (Cash Budget tab), calculate the cash receipts...
Based on the data presented in the Spreadsheet below (Cash
Budget tab), calculate the cash receipts for the first quarter of
this year.
Complete your calculations by filling in the highlighted cells.
Discuss your observations about the way cash is collected if the
company needs $150,000 per month for expenses.
Cookie Business
The
budgeted credit sales are as follows:
December last year
$
250,000
January
$
125,000
February
$
300,000
March
$
90,000
Collection:
Month of the sale
80%
Month...
Following information relates to Acco Co. Beginning cash balance on July 1: $45,000. Cash receipts from...
Following information relates to Acco Co.
Beginning cash balance on July 1: $45,000.
Cash receipts from sales: 21% is collected in the month of
sale, 50% in the next month, and 29% in the second month after sale
(uncollectible accounts are negligible and can be ignored). Sales
amounts are: May (actual), $1,548,000; June (actual), $1,080,000;
and July (budgeted), $1,260,000.
Payments on merchandise purchases: 42% in the month of purchase
and 58% in the month following purchase. Purchases amounts are:
June...
Following information relates to Acco Co. Beginning cash balance on July 1: $35,000. Cash receipts from...
Following information relates to Acco Co.
Beginning cash balance on July 1: $35,000.
Cash receipts from sales: 30% is collected in the month of sale,
50% in the next month, and 20% in the second month after sale
(uncollectible accounts are negligible and can be ignored). Sales
amounts are: May (actual), $1,204,000; June (actual), $840,000; and
July (budgeted), $980,000.
Payments on merchandise purchases: 60% in the month of purchase
and 40% in the month following purchase. Purchases amounts are:
June...
Following information relates to Acco Co. Beginning cash balance on July 1: $45,000. Cash receipts from...
Following information relates to Acco Co.
Beginning cash balance on July 1: $45,000.
Cash receipts from sales: 24% is collected in the month of
sale, 50% in the next month, and 26% in the second month after sale
(uncollectible accounts are negligible and can be ignored). Sales
amounts are: May (actual), $1,548,000; June (actual), $1,080,000;
and July (budgeted), $1,260,000.
Payments on merchandise purchases: 48% in the month of purchase
and 52% in the month following purchase. Purchases amounts are:
June...
Following information relates to Acco Co. Beginning cash balance on July 1: $35,000. Cash receipts from...
Following information relates to Acco Co. Beginning cash balance
on July 1: $35,000. Cash receipts from sales: 27% is collected in
the month of sale, 50% in the next month, and 23% in the second
month after sale (uncollectible accounts are negligible and can be
ignored). Sales amounts are: May (actual), $1,204,000; June
(actual), $840,000; and July (budgeted), $980,000. Payments on
merchandise purchases: 54% in the month of purchase and 46% in the
month following purchase. Purchases amounts are: June...
Arakaki Inc. is working on its cash budget for January. The budgeted beginning cash balance is...
Arakaki Inc. is working on its cash budget for January. The budgeted beginning cash balance is $41,000. Budgeted cash receipts total $114,000 and budgeted cash disbursements total $113,000. The desired ending cash balance is $60,000. How much will be the excess (deficiency) of cash available over disbursements for January?
A. $1,000 B. $155,000 C. $42,000 D. $40,000
A company is preparing their 4th quarter cash summary budget. Based on their beginning cash balance...
A company is preparing their 4th quarter cash summary
budget.
Based on their beginning cash balance and anticipated cash
receipts and cash disbursements (payments), here are the ending
cash balances initially planned each month. The
balances shown below are BEFORE any borrowing of money or repayment
of loans and interest.
Management wants to keep a minimum cash balance of $20,922.
Therefore, they will clearly need to borrow money in November.
Luckily, December looks like a good month and they will have...
Lesedi Company (Pty) Ltd.’s balance sheets for the last two years are provided below Balance Sheet...
Lesedi Company (Pty) Ltd.’s balance
sheets for the last two years are provided below
Balance Sheet
2019
2018
Cash
R 82 000
R 40 000
Accounts Receivable
180 000
150 000
Inventory
170 000
200 000
Equipment
200 000
140 000
Accum. Depreciation
(72 000)
(60 000)
Total Assets
R560 000
R470 000
Accounts Payable
R100 000
R 80 000
Long-term Payables
100 000
50 000
Ordinary Shares
250 000
250 000
Retained Earnings
110 000
90 000
Total...
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