Question

In: Accounting

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

Solutions

Expert Solution

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

Walsh Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $18,000....
Walsh Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $18,000. Budgeted cash receipts total $183,000 and budgeted cash disbursements total $188,000. The desired ending cash balance is $30,000. The excess (deficiency) of cash available over disbursements for January is: Select one: a. 23,000 b. $13,000 c. $201,000 d. ($5,000)
Bries Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $18,900....
Bries Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $18,900. Budgeted cash receipts total $187,500 and budgeted cash disbursements total $189,800. The desired ending cash balance is $30,900. To attain its desired ending cash balance for January, the company should borrow: Multiple Choice $30,900 $47,500 $14,300 $0 Sarafiny Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are planned for the year. Beginning Inventory Ending Inventory...
1. Bustillo Inc. is working on its cash budget for March. The budgeted ... Bustillo Inc....
1. Bustillo Inc. is working on its cash budget for March. The budgeted ... Bustillo Inc. is working on its cash budget for March. The budgeted beginning cash balance is $50,000. Budgeted cash receipts total $134,000 and budgeted cash disbursements total $129,000. The desired ending cash balance is $70,000. To attain its desired ending cash balance for March, the company needs to borrow: Multiple Choice $125,000 $70,000 $15,000 $0 2. Seventy percent of Pitkin ... Seventy percent of Pitkin Corporation's...
• Beginning cash balance for August is $500,000 • The company budgeted sales at 550,000 units...
• Beginning cash balance for August is $500,000 • The company budgeted sales at 550,000 units in August, September, and November and at 625,000 units per month in July and October. The selling price is $3.75 per unit. All sales are cash sales. That is, customers must pay ABC, Inc. before the tiles are shipped to the customer • The inventory of finished goods on July 1 was 125,000 units. The finished goods inventory at the end of each month...
Singal Inc. is preparing its cash budget. It expects to have sales of $30,000 in January,...
Singal Inc. is preparing its cash budget. It expects to have sales of $30,000 in January, $35,000 in February, and $20,000 in March. If 20% of sales are for cash, 40% are credit sales paid in the month after the sale, and another 40% are credit sales paid 2 months after the sale, what are the expected cash receipts for March? a. $34,200 b. $28,200 c. $24,600 d. $30,000 e. $27,600
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...
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.
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.
Steady Eddie Corp. is constructing its cash budget. Its budgeted monthly sales are $8,000, and they...
Steady Eddie Corp. is constructing its cash budget. Its budgeted monthly sales are $8,000, and they are constant from month to month. 40% of its customers pay in the first month and take the 2% discount, while the remaining 60% pay in the month following the sale and do not receive a discount. The firm has no bad debts. Purchases for next month's sales are constant at 50% of projected sales for the next month. "Other payments," which include wages,...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT