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CASH BUDGET ( 5 questions @ 2 . 5 points ) The following data and information are provided to prepare a cash budget for November
CASH BUDGET questions @ points
The following data and information are provided to prepare a cash budget for NovemberDecember :
Budgeted sales for the last months of are $November and $December
All sales are credit sales. The company expects to collect of credit sales in the month of the sale and in the month after the sale.
All necessary merchandise inventories are purchased on account. Purchases are paid in the month of the purchase and in the following month. Purchases for NovemberDecember are estimated to be $November and $December
Selling and administrative expenses for November and December are $ and $ respectively, excluding monthly depreciation expense $
Equipment will be purchased in December for $
$ bonus will be distributed to shareholders in December
Cash balance on November st was $
The company has a policy to maintain a minimum cash balance of $ If necessary, the company will borrow to meet its shortterm needs. All borrowing is done at the beginning of the month and all payments on principal and interest are made at the end of the next month. The annual interest rate is The company must borrow in multiples of $
October sales were $ and merchandise inventory purchased equal $
Prepare the cash budget for NovemberDecember
No currency needed, no decimal needed, no thousand separators or "unit" needed. Example: the correct answer is If you answer or or Rp juta", they all will be considered wrong. If the answer is zero, answer O
Total cash disbursement for merchandise inventory purchased in Dec
Total cash disbursement for bonus in Dec
Total cash disbursement for selling and admin expense in Nov
Ending cash balance in Dec
Accounts Receivable at Dec
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