Ainsworth Enterprises has provided the following estimates relating to the first quarter of 2018. The cash balance
Question:
Ainsworth Enterprises has provided the following estimates relating to the first quarter of 2018.
The cash balance at 1 January 2018 was $19,800.
Required
Prepare a cash budget for the quarter ending 31 March 2018.
Transcribed Image Text:
Cash sales Credit sales Receipts from accounts receivable Cash payments: Wages Office furniture Utilities expenses Administrative expenses Depreciation on office furniture Receipt of loan Credit purchases Payments to accounts payable $80 960 162 624 125 840 95 040 22 176 6688 24816 554 26 400 115 456 93 104
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (10 reviews)
A cash budget is a financial document that shows the expected cash inflows and ...View the full answer
Answered By
BillClinton Muguai
I have been a tutor for the past 5 years. I have experience working with students in a variety of subject areas, including computer science, math, science, English, and history. I have also worked with students of all ages, from elementary school to college. In addition to my tutoring experience, I have a degree in education from a top university. This has given me a strong foundation in child development and learning theories, which I use to inform my tutoring practices.
I am patient and adaptable, and I work to create a positive and supportive learning environment for my students. I believe that all students have the ability to succeed, and it is my job to help them find and develop their strengths. I am confident in my ability to tutor students and help them achieve their academic goals.
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting Business Reporting For Decision Making
ISBN: 9780730363415
6th Edition
Authors: Jacqueline Birt, Keryn Chalmers, Suzanne Maloney, Albie Brooks, Judy Oliver
Question Posted:
Students also viewed these Business questions
-
Ainsworth Enterprises has provided the following estimates relating to the first quarter of 2018. Cash sales Credit sales Receipts from accounts receivable Cash payments: Wages Office furniture...
-
Rainbow Enterprises has presented the following estimates relating to 2018 activities. Sales in the December quarter of 2017 were $690,000. All sales are on credit, of which 55 percent are collected...
-
The Love Company has provided the following information: Income tax rate .......... 30% Selling price per unit.........$6.60 Variable cost per unit.........$5.28 Total fixed costs ..............
-
1. You are the audit partner in charge of five audits which have recently been completed. You are reviewing the files and you now only have to decide which form of audit report you will sign off....
-
1. Is this an alliance that cannot miss? Discuss. 2. Would the venture be better if Wah Shing had acquired Horizon Fuel Cell Technologies or vice versa? Why or why not?
-
If every horizontal line intersects the graph of a function f at no more than one point, f is a(n) __________ function.
-
What do many experts agree is the greatest threat to the success of any project? a. lack of proper funding b. a failure to communicate c. poor listening skills d. inadequate staffing LO.1
-
Texas Instruments primarily develops and manufactures semiconductors for use in technology-based products for various industries. The manufacturing process is capital-intensive and subject to...
-
NMENT RESOURCES 12 - Spring 2020) Exercise 5-5 Grouper Company has decided to expand its operations. The bookler recently completed the balance she presented below order to enlands BALANCE SHEET FOR...
-
Professor Smith teaches two sections of business statistics, which combined will result in 120 final exams to be graded. Professor Smith has two graduate assistants, Brad and Sarah, who will grade...
-
Kyle Company makes specially designed coffee mugs. The entity has developed its web page and is trying to switch customer behaviour to this form of medium. Sales for each quarter of 2017 were as...
-
Explain the meaning of the term budgetary slack.
-
Calculate the amount of interest to be charged on a $12,000, 8.5%, 90-day interest-bearing note.
-
Thomson Company's income statement for the year ended December 31, 20X4, reported net income of $360,000. The financial statements also disclosed the following information: Depreciation $60,000...
-
Based on past experience, Maas Corporation (a U.S.-based company) expects to purchase raw materials from a foreign supplier at a cost of 1,800,000 francs on March 15, 2024. To hedge this forecasted...
-
Suppose that laws are passed banning labor unions and that resulting lower labor costs are passed along to consumers in the form of lower prices. Assume that the U.S. economy was in long-run...
-
What's wrong with the following statement? "Because the digits 0, 1, 2,....9 are the normal results from lottery drawings, such randomly selected numbers have a normal distribution." Choose the...
-
Matching Question Drag and drop various responsibilities of employers that are related to workplace values against the corresponding values. Drag and drop application. Justice Justice drop zone...
-
In Exercises, match each function with its graph from choices AD. y = 5 - 2 x A. B. C. D.
-
List four items of financial information you consider to be important to a manager of a business that has been operating for a year.
-
Differentiate GAAP earnings and pro forma earnings. In doing so, identify a company that has reported both and investigate the reasons for the difference in the GAAP earnings and pro forma earnings.
-
A list of account balances for Mr Yen's business (Yinyan) at the end of the 30June 2013 reporting period is shown below. Produce the income statement for the reporting period, and the equity balance...
-
'The profit represents the increase in the value of the entity during the reporting period.' Critically evaluate this statement.
-
If the auditor believes that the financial statements prepared on the basis of the entity's income tax are not adequately titled, the auditor should : A)Issue a resignation of opinion. B)Explain the...
-
initial stock offering to the public. This REIT specializes in the acquisition and management of warehouses. Your firm, Blue Street Advisors, is an investment management company that is considering...
-
Question 3 You have been hired to run a pension fund for Mackay Inc, a small manufacturing firm. The firm currently has Gh5 million in the fund and expects to have cash inflows of $2 million a year...
Study smarter with the SolutionInn App