1. What are the budgeted cash collections for February 202x? P101,800 P63,800 P66,000 a. с. b. d. P104,000 2. What is the pro-forma income (loss) before income taxes for February 202x? P(3,700) P(1,500) P3,800 P6,000 а. C. b. d.
Q: QUESTION 4 REQUIRED Use the information provided below to prepare the following for Xpanda Limited…
A: What is meant by Budgeting? It is the process of estimating the future cash flows by doing market…
Q: Your Company is working on its cash budget for July. The budgeted beginning cash balance is $50,000.…
A: A cash budget involves the estimation of cash inflows and cash flows that may occur in the future…
Q: Schedules of Expected Cash Collections and Disbursements; Income Statement; Balance Sheet [LO8-2,…
A: Note: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts…
Q: OCTOBER 2021 / MAC301 / MAC2073 Question 4 Usman, the senior management accountant of Baiduri Sdn…
A: Budgeting is an important aspect followed by every company for the purpose of decision making.…
Q: A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires…
A:
Q: 27) In the development of the Cash Collections Budget, you estimate that 1/2 of 1% of Sales will…
A: Cash collection schedule contains the details of collection or receipts by the entity on periodic…
Q: C. The Afghanistan Bank has asked AUAF Printing Inc. for a budgeted balance sheet for the year ended…
A: In this problem we will first prepare Cash A/c from the available information. Then…
Q: 2. Prepare a cash budget for Atlas Products, Inc. for the first year of 20X2, based on the following…
A: January: 75% of last month 577,500 25% of current month 172,500 Total : $750,000 February: 75%…
Q: Use the information provided below to prepare the following for November and December 2021: 4.1…
A: What is meant by Budgeting? It is the process of estimating the future cash flows by doing market…
Q: Use the information provided below to prepare the Cash Budget for January and February 2023:…
A: Cash Budget can be prepared only for the cash income and expenses. Hence items which are non cash in…
Q: he following information pertains to Omega Projects Ltd for the three months ended 31 December 2020.…
A: Budgets are the forecasts that are being made for the purpose of estimating future revenues and…
Q: Which of the following would not be used in preparing a cash budget for January 2022? O beginning…
A: The question is based on the concept of Cost Accounting.
Q: p ness to borrow money during this quarter. Extracts from the sales and purchases budgets are…
A: Part C Management cannot achieve the cash balance.
Q: A cash budget, by quarters, is given below for a retail company. (000 omitted). The company requires…
A: Cash Budget is prepared to ascertain the amount of excess or deficiency of cash available or…
Q: A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires…
A: Cash Budget:- It is a company's estimation of cash inflow and outflow over a period of time which…
Q: Which is the correct answer? The following information was reported in a cash budget: Beginning…
A: Budget: A budget is an estimation to determine the income that will be earned and expenses that will…
Q: 2. Prepare a cash budget for Atlas Products, Inc. for the first year of 20X2, based on the following…
A: The cash budget is prepared to estimate the inflows and outflows of cash during the future specified…
Q: B. GreenHarvest has prepared a Cash Budget for JANUARY, shown below (* (GreenHarxest cash balance as…
A: Budget refers to the statement prepared by the government, individual, and organization based on the…
Q: A Saudi printing supply has applied for a loan. Riyad bank has requested a budget balance sheet at…
A: A balance sheet is a financial statement that represents the financial position of a company as on a…
Q: Master P Companies CASH BUDGET Company A Company B Company C Beginning cash balance P100 P300 P700…
A: Cash Excess ( Shortage ) ( For Company A ) = Ending Cash - Borrowings = P200 - P300 = ( P100 ) Cash…
Q: The following information was provided by Intel Enterprises: 1. The bank balance on 31 December 2022…
A: A cash budget is a budget prepared by the company at the beginning of the period that contains the…
Q: The following budgeted May cash information is available for Salado Corp.: Net after-tax income…
A: Dividends declared will not have any impact on cash flows. Hence it will not be considered while…
Q: Question 4 Use the information provided below to prepare the following for January and February…
A: Debtors Collection Scheduled :— It is a scheduled that provides net Cash collection from the…
Q: What is the budgeted cash collections for the month of October? 2. What is the budgeted purchases…
A: Budgets are the estimates or forecasts that are made for future period of time. These are the…
Q: Question 1 The following data is available from the various functional budgets prepared at Nur Ika…
A: The question is related to the Cash Budget. A Cash budget is a Statement of Cash Receipts and Cash…
Q: Question #2 Cash budgeting is critical to a company’s financial information needs. The following…
A: Budgeting - Budgeting is the process of estimating future operations based on past performance. %…
Q: 4.1 Debtors Collection Schedule 4.2 Cash Budget INFORMATION The information provided below was taken…
A: A Cash Budget is basically in simple terms that kind of budget which is an estimate of Cash inflows…
Q: Planning and actual budgets for the month ended December 31st, 2020 PLANNING ACTUAL Budgeted meals…
A: “Since you have asked multiple questions, we will solve the first three questions for you. If you…
Q: Question #2 Cash budgeting is critical to a company’s financial information needs. The following…
A: Cash budget means the expected cash receipts and expected cash payment for the next year. Cash…
Q: A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires…
A: The cash budget shows the cash inflows and outflows during the year. The entity needs to maintain…
Q: Question 4 Use the information provided below to prepare the following for January and February…
A: Assets- An asset is a financial resource that a company or business entity owns for its long-term…
Q: On June 30, Alpha Company's cash balance is $4.000. Alpha is now prepaning their cash budget for the…
A: Budgeted balance sheet of the business shows budgeted amount of assets and liabilities of the…
Q: The budgeted sales for the next four quarters are R192 000, R288 000, R288 000 and R336 000…
A: First quarters Second quarters Third quarters Budgeted sales R192,000 R288,000 R288,000…
Q: A cash budget, by quarters, is given below for a retail company. (000 omitted)…
A:
Q: 11. Calculating the Cash Budget Here are some important figures from the budget of Crenshaw, Inc.,…
A: Calculation for cash collections from credit sales for each month is as below:
Q: company chief accountant has provided you with the following information relating to the next budget…
A: Cash budget is an estimation of total cash receipts and cash payments during a period of time.it…
Q: SEATECH INC. Cash Budget For the Months of April, May, and June 2019 April May June Beginning cash…
A: In requirement B it is stated that the company wants to maintain a minimum cash balance of $10,000…
Q: a. Beginning cash balance on June 1, P85,300. b. Cash receipts from sales, P519,500. Budgeted cash…
A: Cash budget was used by an entity to plan for its expected disbursements and receipts of cash.
Q: QUESTION 1 REQUIRED Prepare the Cash Budget for a project of Aston Enterprises for the period 01 May…
A: Cash budget of the business shows expected cash receipts and cash payments to be made along with…
Q: Beech Corporation is a merchandising company that is preparing a master budget for the third quarter…
A: Master budget is considered to be the sum of all budgets prepared.
Q: A company has made the following budget forecasts for next year: R Opening cash balance 1 January…
A: Statement of Cash Flows For the Year Ended December 31, Cash flow from Operating…
Q: What is the amount of budgeted cash payments if purchases are budgeted for $430,000 and the…
A: The budget is prepared to estimate the requirements for the future period.
Q: In preparation for the quarterly cash budget, the following information have been compiled. Month…
A: Cash budget means the expected cash receipts and expected cash payment for the next year. Cash…
Q: Expected cash collections in December are: P54,400 P256,000 P320,000 P310,400
A: The question is based on the concept of Financial Management.
Q: Prepare a cash budget for the first quarter of 2021. Clearly show the amounts for cash sales, credit…
A:
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- The following items were excerpted from Poeltl, Inc.'s balance sheets: December 31, 2023December 31, 2022Cash$86,300$59,000Accounts receivable65,60070,600Inventory157,000150.300Property and equipment794,500745,400Accumulated depreciation(184,000)(168,200)Accounts payable61,00050,600Wages payable20,40023,000 Poeltl's 2023 income statement showed net income of $463,000, depreciation expense of $57,000, and a gain on disposal of equipment of $16,000. On Poeltl's 2023 statement of cash flows, how much is Net Cash Provided by Operating Activities?ABC Company, as of December 31, 2021 provided the following balances: Cash, net of a P7,000 overdraft 80,000 Receivable, net of customer credit balances totaling P6,000 30,000 Inventory (P20,000 of which are held on consignment 60,000 Prepayments 10,000 Property, plant and equipment, net of accumulated depreciation of P15,000 90,000 Accounts payable net of debit balances in suppliers' accounts of P3,000 45,000 Notes payable – bank, due on July 2022 25,000 Income tax payable 15,000 17. Total current assets reported in the December 31, 2021 balance sheet is a. 176,000 b. 156,000 c. 173,000 d. 170,000The comparative statement of financial position for Moose Jaw Ltd. is as follows:Moose Jaw Ltd.Comparative Statement of Financial PositionAs at December 312021 2020Cash $20,500 $12,500Accounts receivable 34,000 25,500Inventories 20,000 30,000Prepaid insurance 2,500 2,000Equipment 102,000 90,000Accumulated depreciation - equipment (22,500) (12,500)Total assets $156,500 $147,500Accounts payable $23,000 $20,000Interest payable 2,000 3,000Wages payable 4,000 2,000Income taxes payable 4,000 5,000Long-term note payable 30,000 34,500Common shares 65,000 65,000Retained earnings 28,500 18,000Total liabilities and equity $156,500 $147,500More information about Moose Jaw’s operations for 2021:• A machine which the company paid $10,000 for was sold for a gain of$1,000. The equipment’s accumulated depreciation was $7,000.• The company had net income for of $13,500.RequiredConstruct the operating activities section of Moose Jaw Ltd.’s statement of cashflows using the indirect method. Use proper…
- The following is the excerpt of financial information of SVT Corporation on December 31, 2022: Account Amount Gross profit P5,000,000.00 Operating Expense 120,000.00 Other expense 300,000.00 Income Tax expense 50,000.00 Current Assets 450,000.00 Non-current assets 7,000,000.00 Total Liabilities 750,000.00 What percent is SVT Corporation's return on asset on December 31, 2022? 67.61% cannot be determined 64.71% D 60.8%The balance sheets for Plasma Screens Corporation and additional information are provided below. PLASMA SCREENS CORPORATIONBalance SheetsDecember 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $ 138,880 $ 118,000 Accounts receivable 74,000 90,000 Inventory 93,000 78,000 Investments 3,800 1,800 Long-term assets: Land 460,000 460,000 Equipment 770,000 650,000 Less: Accumulated depreciation (408,000 ) (248,000 ) Total assets $ 1,131,680 $ 1,149,800 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 97,600 $ 83,000 Interest payable 5,500 11,800 Income tax payable 7,500 4,800 Long-term liabilities: Notes payable 100,000 200,000 Stockholders' equity: Common stock…Some selected financial statement items belonging to PXR Company are given in the table below. According to this information, which of the following is Return on Assets (ROA) in 2021? Receivables 18,500 Total Assets 120,000 Current Liabilities 42,000 total liabilities 75,000 Profit after Tax 15,000 Select one: a. The correct answer not available b. 0.205 c. 0.137 d. 0.150 e. 0.125
- the balance sheets for Plasma Screens Corporation and additional information are provided below. PLASMA SCREENS CORPORATIONBalance SheetsDecember 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $ 242,000 $ 130,000 Accounts receivable 98,000 102,000 Inventory 105,000 90,000 Investments 5,000 3,000 Long-term assets: Land 580,000 580,000 Equipment 890,000 770,000 Less: Accumulated depreciation (528,000 ) (368,000 ) Total assets $ 1,392,000 $ 1,307,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 109,000 $ 95,000 Interest payable 7,000 13,000 Income tax payable 9,000 6,000 Long-term liabilities: Notes payable 110,000 220,000 Stockholders' equity: Common stock…QUESTION : " The balance sheet of Lara Ltd are as follows: 31/12/2019 Non-Current Assets RM RM RM Equipment (Cost) Less: Accumulated depreciation 28,500 (11,450) 17,050 Current Assets 18,570 Inventory Account receivable 8,470 Less: Provision doubtful debts (420) 8,050 4,060 30,680 Cash and bank Total Assets Current Liabilities Account Payable 4,140 Non-Current Liabilities Loan 10,000 Total Liabilities (14,140) 16,540 Net Assets 33,590 Capital Opening Add: Net profit 35,760 10,240 Cash introduced Less: Drawing Total Capital (12,410) 33,590 31/12/2020 Non-Current Assets RM RM RM Equipment (Cost) Less: Accumulated depreciation 26,100 (13,010) 13,090 Current Assets 16,250 Inventory Account receivable 14,190 Less: Provision doubtful debts (800) 13,390 3,700 33,340 Cash and bank Total Assets Current Liabilities Account Payable 5,730 Non-Current Liabilities Loan 4,000 23,610 36,700 Total Liabilities (9,730) Net AssetsThe statement of financial position and profit or loss of an entity on December 31, 20x1 shows the following information: Cash and cash equivalents 1,500,000Trade and other receivables 3,000,000 Inventories 9,000,000Investment property (Cost model) 3,500,000Investment in associate 2,000,000Property, plant and equipment 12,500,000Total assets 31,500,000 Trade and other payables 12,250,000Current tax payable 4,500,000Deferred tax liability 1,750,000Ordinary share capital 5,000,000Retained earnings 6,750,000Other components of equity 1,250,000Total liabilities & equity 31,500,000Revenue 5,600,000Cost of sales (2,000,000)Gross profit 3,600,000Distribution of cost (780,000)Administrative expenses (900,000) Impairment loss (reversal) on assets held for saleFinance costs (300,000)Share of profit of associates 240,000Profit for the period from continuing operations 1,860,000 Discontinued Operations:Profit for the period from discontinued operations…
- Peter Senen Corporation provided the following account balances as of September 30, 2020:Cash P112,000 Accumulated depreciation P 36,000Accounts Receivable 64,000 Accounts payable 40,000Finished Goods 48,000 Income tax payable 9,000Work in process 36,000 Share Capital 500,000Raw materials 52,000 Retained Earnings 207,000Property and Equipment 480,000The following transactions occurred during October:1. Materials purchased on account, P150,0002. Materials issued to production: direct materials- P90,000, Indirect materials- P10,000.3. Payroll for the month of October 2020 consisted of the following (also paid during the month):Direct labor P62,000 Administrative salaries P16,000Indirect Labor 20,000Sales salaries 30,000Payroll deductions were as follows:Withholding taxes P19,800 Phil health contributions P2,000SSS contributions 7,100 HDMF contributions 2,0004. Employer contributions for the month were accrued:Factory Selling AdministrativeSSS contributions P5,700 P2,000 P1,100Philhealth…The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: PLASMA SCREENS CORPORATIONBalance SheetsDecember 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $ 146,750 $ 159,000 Accounts receivable 76,000 89,500 Inventory 90,000 75,500 Prepaid rent 3,000 1,500 Long-term assets: Land 455,000 455,000 Equipment 750,000 645,000 Accumulated depreciation (415,000 ) (258,000 ) Total assets $ 1,105,750 $ 1,167,500 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 94,000 $ 80,500 Interest payable 6,750 13,500 Income tax payable 7,000 4,500 Long-term liabilities: Notes payable 112,500 225,000 Stockholders' equity: Common stock…Presented below are selected accounts of Cheyenne Company at December 31, 2025, Inventory (hinished goods) Unearned Service Revenue Equipment Inventory (work in process) Cash Debt Investments (trading) Customer Advances Restricted Cash for Plant Expansion 1 2 3. 4. 5. 6. 7. The following additional Information is available. $57,100 99,000 259,100 Currere Assets Current Liblikies Intangibis Assess Long-term invaimenta Long-term Lieblises Property Plant and Equipment Stockholders Equity Total Assets 41,700 Total Currans Assss Total Current Liablisis Total Intangis Assets Total Liabilities Total Liabilities and Stockholders Equity Total Long sam Inveaimanta Total Long-tarm Labiss Total Property, Plant, and Equipmara Total Stocichaldars Equlty 42,600 32,700 42,900 50,800 Cost of Goods Sold Notes Receivable Accounts Receivable Inventory (raw materials) Supplies Expense Allowance for Doubtful Accounts Licenses Additional Paid-in Capital Treasury Stock $2,105,600 37,200 CHEYENNE COMPANY…