Question :
41.Which of the following would appear a selling and administrative : 1257178
41.Which of the following would appear on a selling and administrative expense budget, but would not appear on a schedule of cash payments for selling and administrative expenses?
A. Cost of goods sold
B. Depreciation expense
C. Salary expense
D. Sales expense
42.Which of the following items typically found on the selling and administrative expense budget will also impact the cash budget?
A. Depreciation expense
B. Administrative salaries
C. Advertising expense
D. Both administrative salaries and advertising expense are correct.
43.Select the correct statement regarding the selling and administrative (S&A) expense budget.
A. The S&A budget is prepared after the sales budget.
B. The S&A budget is prepared before the cash budget.
C. The S&A budget is prepared before the pro forma income statement.
D. All of these answers are correct.
44.Which of the following budgets or schedules uses data contained in the selling and administrative expense budget?
A. Cash receipts schedule
B. Cash payments schedule
C. Inventory purchases budget
D. Sales budget
45.The following budget information is available for Crescent Company for January 2014: All operating expenses are paid in cash in the month incurred. The amount of expected cash outflow for selling and administrative expenses would be:
A. $262,500.
B. $247,50.
C. $232,500.
D. $312,500.
46.Budgeted depreciation expense would not appear on a:
A. Selling and administrative expense budget.
B. Budgeted income statement.
C. Cash budget.
D. All of these answers are correct.
47.Which of the following cash budget equations is incorrect?
A. Cash payments + cash receipts = cash requirements
B. Beginning cash + cash receipts = total cash available
C. Cash payments + cash cushion = total cash needed
D. Period one ending cash balance = period two beginning cash balance
48.Hilliard Company budgeted the following transactions for April 2014: The beginning cash balance was $50,000. The company desires to have a $25,000 ending cash balance. What is the amount of the cash surplus or shortage?
A. $40,000 surplus
B. $40,000 shortage
C. $20,000 shortage
D. There is no surplus or shortage.
49.Bantam Industries has budgeted the following information for March: If there is a cash shortage, the company borrows money from the bank. All cash is borrowed at the beginning of the month in $1,000 increments and interest is paid monthly at 1% on the first day of the following month. The company had no debt before March 1st. The shortage or surplus of cash before considering cash borrowed in March would be:
A. $25,000 shortage.
B. $29,000 shortage.
C. $29,000 surplus.
D. $4,000 shortage.
50.Cheyenne Company has budgeted the following information for June: If there is a cash shortage, the company borrows money from the bank. All cash is borrowed at the beginning of the month in $1,000 increments and interest is paid monthly at 1% on the first day of the following month. The company had no debt before June 1st. The amount of interest paid on July 1 would be:
A. $250.
B. $400.
C. $221.
D. $290.
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