Question
In: Accounting
Complete a cash budget for The Stars basketball team based on the following information. Projected...
Complete a cash budget for The Stars basketball team based on the following information. Projected Total Revenues: Q1=$800, Q2=$900, Q3=$950, Q4=$1000, 1 st quarter next yr. = $1000 Accounts Receivable (beginning) are equal to $450 50% of Revenues are cash sales The rest of the revenues (50%) are collected in the following quarter Beginning accounts payable are equal to $250 Purchases from vendors each quarter are 50% of next quarter sales Payments to vendors are scheduled as: 70% in the quarter of the purchases from vendors and the balance of 30% in the following quarter. Other expenses include: o Team and game expenses which are 30% of total revenues each quarter o Selling and promotional expenses which are 5% of total revenues each quarter o General and administrative expenses which are 7% of total revenues each quarter o Interest expense and taxes which are 6% of total revenues each quarter The beginning cash balance is $120
Solutions
ekkarill92 answered 11 months agoRelated Solutions
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Revenue
Tuition fee: $100,000 paid monthly
Event income: $50,000 by Thanksgiving
Foundation support: $200,000 semiannually, May and November
Expense
Salary and wages: $80,000 monthly
Rent and insurance: $100,000 in January
Supply and food: $10,000 monthly
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(1) Prompt the user to input five pairs of numbers: A player's
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Write a paragraph on the pros and cons of using forward
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Use the following information to prepare a cash budget for December. The cash balance on December...
Use the following
information to prepare a cash budget for December.
The cash balance on
December 1 is $53,400.
Actual sales for
October and November and expected sales for December are as
follows:
October
November
December
Cash
sales
$
77,000
$
81,200
$
87,800
Sales on
account
$
435,000
$
538,000
$
644,000
Sales on account are
collected over a three-month period as follows: 20% collected in
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The urgent care manager must resubmit her budget based on 2018 projected visits. The 2018 budget...
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Cost standards (2017) and budget standards (2018) must be prepared
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Budgeted units
15,000
Revenue
$1,500,000
Expenses:
Wages and Salaries ($200,000 + $10Q)
$350,000
Utilities (variable)
$300,000
Depreciation (fixed)
$200,000
Total expenses
$850,000
Net operating income
$650,000
Q = units produced
Budgeted units
20,000
Revenue
Expenses:
Wages and Salaries ($200,000 + $10Q)
Utilities (variable)
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Total expenses
Net operating income
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Chelsea Clinic
Total FFS Visit Volume
90,000
visits
Payer Mix:
Blue Cross
40%
Highmark
60%
Reimbursment Rates
Blue Cross
$25
per visit
Highmark
$20
per visit
Variable Costs
Resource Inputs
Labor
48,000
total hours
Supplies
100,000
total units
Resource Input Prices
Labor
$
25.00
per hour
Supplies
$
1.50
per unit
Fixed Costs (overhead, plant and equipment)
$ 500,000.00...
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