Question : 6) How much cash will be paid to suppliers in : 1217227

 

6) How much cash will be paid to suppliers in March?

A) $46,400

B) $56,000

C) $88,000

D) None of these answers are correct.

7) How much cash will be disbursed in total in March?

A) $42,000

B) $50,000

C) $88,400

D) $96,400

 

8) What is the ending cash balance for March?

A) ($50,000)

B) $6,000

C) $5,600

D) $6,600

Answer the following questions using the information below:

 

Monetary Company has the following sales budget for the last six months of 2011:

 

July              $200,000              October              $ 180,000

August              160,000November              200,000

September              220,000December              188,000

 

Historically, the cash collection of sales has been as follows:

65% of sales collected in the month of sale,

25% of sales collected in the month following the sale,

8% of sales collected in the second month following the sale, and

2% of sales are uncollectible.

 

9) Cash collections for September are:

A) $143,000

B) $173,400

C) $199,000

D) $204,000

 

10) What is the ending balance of accounts receivable for September, assuming uncollectible balances are written off during the second month following the sale?

A) $199,000

B) $97,000

C) $89,800

D) $93,000

11) Cash collections for October are:

A) $117,000

B) $184,800

C) $199,000

D) $176,400

 

Answer the following questions using the information below:

 

Bear Company has the following information:

 

MonthBudgeted Purchases

January              $26,800

February              29,000

March              30,520

April              29,480

May              27,680

 

Purchases are paid for in the following manner:

10% of the purchase amount in the month of purchase

50% of the purchase amount in the month after purchase

40% of the purchase amount in the month after purchase

 

12) What is the expected balance in Accounts Payable as of March 31?

A) $39,068

B) $18,312

C) $2,900

D) $30,520

13) What is the expected balance in Accounts Payable as of April 30?

A) $26,532

B) $38,740

C) $12,208

D) $17,688

 

14) What is the expected Accounts Payable balance as of May 31?

A) $11,792

B) $24,912

C) $36,704

D) $2,948

Answer the following questions using the information below:

 

The following information pertains to the January operating budget for Casey Corporation.

 

?Budgeted sales for January $100,000 and February $200,000.

?Collections for sales are 60% in the month of sale and 40% the next month.

?Gross margin is 30% of sales.

?Administrative costs are $10,000 each month

?Beginning accounts receivable is $20,000.

?Beginning inventory is $14,000.

?Beginning accounts payable is $60,000. (All from inventory purchases.)

?Purchases are paid in full the following month.

?Desired ending inventory is 20% of next month’s cost of goods sold (COGS).

 

15) For January, budgeted cash collections are:

A) $20,000

B) $60,000

C) $80,000

D) None of these answers are correct.

 

 

 

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