{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T18:15:56-04:00", "answer_date": "2024-05-26 18:15:56", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1754169", "url": "\/study-help\/questions\/foyert-corporation-requires-a-minimum-7700-cash-balance-loans-taken-1754169", "question_creation_date_js": "2024-05-26T18:15:56-04:00", "question_creation_date": "May 26, 2024 06:15 PM", "meta_title": "[Solved] Foyert Corporation requires a minimum $7, | SolutionInn", "meta_description": "Answer of - Foyert Corporation requires a minimum $7,700 cash balance. Loans taken to meet this requirement cost 2% interest per m | SolutionInn", "meta_keywords": "foyert,corporation,requires,minimum,$7,700,cash,balance,loans,meet,requirement,cost,2%", "question_title_h1": " Foyert Corporation requires a minimum $7,700 cash balance. Loans taken to meet this requirement cost 2% interest per month (paid at the end of", "question_title": " Foyert Corporation requires a minimum $7,700 cash balance. Loans taken to", "question_title_for_js_snippet": "Foyert Corporation requires a minimum $7,700 cash balance Loans taken to meet this requirement cost 2 interest per month (paid at the end of each month) Any preliminary cash balance above $7,700 is used to repay loans at month end The cash balance on October 1 is $7,700, and the company has an outstanding loan of $3,700 Budgeted cash receipts (other than for loans received) and budgeted cash payments (other than for loan or interest payments) follow Cash receipts Cash payments October $23,700 26,550 November $ 17,700 16,700 December $ 21,700 14,300 Prepare a cash budget for October, November, and December (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign Round your final answers to the nearest whole dollar ) FOYERT CORPORATION Beginning cash balance) Total cash available Total cash payments Preliminary cash balance Loan activity Ending cash balance Loan balance Beginning of month Additional loan (loan repayment) Loan balance End of month Cash Budget October November December $ 7,700 Loan balance $ 3,700", "question_description": "\"image", "transcribed_text": "Foyert Corporation requires a minimum $7,700 cash balance. Loans taken to meet this requirement cost 2% interest per month (paid at the end of each month). Any preliminary cash balance above $7,700 is used to repay loans at month-end. The cash balance on October 1 is $7,700, and the company has an outstanding loan of $3,700. Budgeted cash receipts (other than for loans received) and budgeted cash payments (other than for loan or interest payments) follow. Cash receipts Cash payments October $23,700 26,550 November $ 17,700 16,700 December $ 21,700 14,300 Prepare a cash budget for October, November, and December. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) FOYERT CORPORATION Beginning cash balance) Total cash available Total cash payments Preliminary cash balance Loan activity Ending cash balance Loan balance Beginning of month Additional loan (loan repayment) Loan balance-End of month Cash Budget October November December $ 7,700 Loan balance $ 3,700", "related_book": { "title": "Holt McDougal Larson Geometry", "isbn": "0547315171, 978-0547315171", "edition": "1st Edition", "authors": "Ron Larson, Laurie Boswell, Timothy D. Kanold, Lee Stiff", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/626a76e2a6acd_10539.jpg", "uri": "\/textbooks\/holt-mcdougal-larson-geometry-student-edition-2011-9780547315171", "see_more_uri": "\/textbooks\/highschool-accounting-3259" }, "free_related_book": { "isbn": "979-8404578751", "uri": "\/textbooks\/accounting-ledger-book-simple-accounting-ledger-book-for-bookkeeping-and-small-business-120-pages-979-8404578751-126201", "name": "Accounting Ledger Book Simple Accounting Ledger Book For Bookkeeping And Small Business 120 Pages", "edition": "" }, "question_posted": "2024-05-26 18:15:56", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/explain-the-mechanism-routes-of-administration-of-sedds-self-396623", "description": "Explain the Mechanism & routes of administration of SEDDS (Self emulsifying drug delivery system).", "stars": 3 }, { "url": "\/access-organics-inc-hired-andy-hernandez-to-sell-organic-produce", "description": "Access Organics, Inc., hired Andy Hernandez to sell organic produce. Later, Hernandez signed an agreement not to compete with Access for two years following the termination of his employment. He did...", "stars": 3 }, { "url": "\/study-help\/horngrens-cost-accounting-a-managerial-emphasis\/2-which-transfer-price-should-derwent-ltd-select-to-minimise-1806916", "description": "=+2 Which transfer price should Derwent Ltd select to minimise the total of company import duties and income taxes? Remember that the transfer price must be between the full manufacturing cost per...", "stars": 3 }, { "url": "\/study-help\/biostatistics\/using-the-icu-data-set-a-create-a-2-1981117", "description": "Using the ICU data set (a) create a 2 2 contingency table summarizing vital status (STA) by infection at admission (INF). (b) estimate the odds ratio of death for having an infection at admission....", "stars": 3 }, { "url": "\/a-national-park-service-survey-of-visitors-to-the-rocky", "description": "A National Park Service survey of visitors to the Rocky Mountain region revealed that 50% visit Yellowstone Park, 40% visit the Tetons, and 35% visit both. a. What is the probability a vacationer...", "stars": 3 }, { "url": "\/study-help\/questions\/in-preparing-a-companys-statement-of-cash-flows-for-the-9880142", "description": "In preparing a company's statement of cash flows for the most recent year, Ransom Corp. reported the following information: Repayment of outstanding bonds $ 107,000 Purchase of treasury stock 62,000...", "stars": 3 }, { "url": "\/study-help\/questions\/save-the-cheyenne-hotel-in-big-sky-montana-has-1967191", "description": "Save & The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a...", "stars": 3 }, { "url": "\/study-help\/questions\/question-the-bank-portion-of-last-months-bank-reconciliation-for-6275623", "description": "Question: The Bank Portion Of Last Month's Bank Reconciliation For Crane Ltd. At February 28 Was As... CRANE LTD Barcation February 28 11.002 520 Thone with the second in cancer par les terres...", "stars": 3 }, { "url": "\/study-help\/questions\/1-consider-the-following-time-period-1-2-3-4-1990551", "description": "1. Consider the following: Time Period 1 2 3 4 Total cost Receipts $20,000 $30,000 $50,000 $60,000 Total Cost Disbursements $15,000 $36,000 $59,000 $44,000 The organization must maintain a $5,000...", "stars": 3 }, { "url": "\/study-help\/questions\/income-statements-under-absorption-costing-and-variable-costing-gallatin-county-1990771", "description": "Income Statements under Absorption Costing and Variable Costing Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of...", "stars": 3 }, { "url": "\/study-help\/questions\/1-world-coffee-incorporated-has-provided-the-following-information-pertaining-1991800", "description": "1) World Coffee, Incorporated has provided the following information pertaining to the store's month ended October 31, 2022: Sales revenue $100,000 Supplies expense $1,500 Interest expense 6,900 Rent...", "stars": 3 }, { "url": "\/study-help\/questions\/zach-d-age-49-dob-171973-ssn-and-victoria-1997737", "description": "Zach D. (age 49, DOB: 1\/7\/1973, SSN: ) and Victoria L. (age 42, DOB: 4\/1\/1980, SSN: 421- 00-1019) Colby live in a townhouse located at 3842 Timber Creek Drive, Your City, Your State Your Zip. They...", "stars": 3 }, { "url": "\/study-help\/questions\/acme-inc-produces-sunglasses-at-its-factory-the-following-information-1432905", "description": "ACME Inc. produces sunglasses at its factory. The following information relates to the production of the sunglasses for the period ending 30 June 2021. Production (Units) Sales (Units) Budgeted...", "stars": 3 }, { "url": "\/study-help\/questions\/how-do-managers-go-about-making-segment-product-line-elimination-8398574", "description": "How do managers go about making segment product line elimination decisions?", "stars": 3 }, { "url": "\/study-help\/categorical-data-analysis\/consider-model-918-what-is-the-effect-on-the-model", "description": "Consider model (9.18). What is the effect on the model parameter estimates, their standard errors, and the goodness-of-fit statistics when (a) The times at risk are doubled, but the numbers of deaths...", "stars": 3 }, { "url": "\/study-help\/introduction-to-materials-management\/a-company-has-7000-cartons-to-store-on-pallets-each-1674328", "description": "A company has 7000 cartons to store on pallets. Each pallet takes 30 cartons, and the cartons are stored four high. How many pallet positions are needed? LO.1", "stars": 3 }, { "url": "\/study-help\/introduction-to-materials-management\/a-company-wants-to-store-an-sku-consisting-of-5000-1674327", "description": "A company wants to store an SKU consisting of 5000 cartons on pallets each containing 30 cartons. They are to be stored three high in the warehouse. How many pallet positions are needed? LO.1", "stars": 3 }, { "url": "\/study-help\/introduction-to-materials-management\/when-are-some-good-times-to-count-inventory-lo1-1674326", "description": "When are some good times to count inventory? LO.1", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/pasqual-melo-is-employed-by-a-public-corporation-on-january-1754168", "next": "\/study-help\/questions\/exercise-1911-overhead-rate-costs-assigned-to-jobs-lo-p3-1754170" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": " Foyert Corporation requires a minimum $7,700 cash balance. Loans taken to", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/foyert-corporation-requires-a-minimum-7700-cash-balance-loans-taken-1754169" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }}