XYZ company is preparing its cash budget for the first quarter of the year. It has...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/66558ff4c1819_44466558ff4bc050.jpg)
Transcribed Image Text:
XYZ company is preparing its cash budget for the first quarter of the year. It has $10,000 in cash at the beginning of the period. Cash collections from customers for the quarter are budgeted at $28,000. Cash payment during the quarter for inventory purchases are budgeted at $25,000. The desired cash balance at the end of the quarter is $9,000. Other operating expenses for the quarter are budgeted at $20,000, which includes $3,000 depreciation. Cash expenses are paid in the month incurred. How much borrowing will the company need during the quarter? Select one: a. $16,000 O b. None of the given answers Oc. $13,000 Od. $19,000 Oe. $5,000 XYZ company is preparing its cash budget for the first quarter of the year. It has $10,000 in cash at the beginning of the period. Cash collections from customers for the quarter are budgeted at $28,000. Cash payment during the quarter for inventory purchases are budgeted at $25,000. The desired cash balance at the end of the quarter is $9,000. Other operating expenses for the quarter are budgeted at $20,000, which includes $3,000 depreciation. Cash expenses are paid in the month incurred. How much borrowing will the company need during the quarter? Select one: a. $16,000 O b. None of the given answers Oc. $13,000 Od. $19,000 Oe. $5,000
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Why do employers provide employee benefits, rather than providing all compensation in the form of pay and letting employees buy the services they want?
-
Tracking errorthe standard deviation of active returnsis a common measure of a portfolios ex ante risk. What are some limitations of using expected tracking error to measure the ex ante risk of an...
-
Suppose that after forecasting sales and deducting expenses, you are left with 3 percent operating profit before interest charges and taxes. What would you do? LO.3
-
For each of the following independent cases, compute the amounts (in thousands) for the items indicated by letters, and show your supporting computations: Case $140 120 $K 170 $300 270 Revenues...
-
All depository institutions Select one: a.keep all of their deposits at the Bank of Canada except their vault cash. b.keep a certain percentage of their deposits at the Bank of Canada and as vault...
-
Consider a successful current Norwegian growth company with the following inputs: ROIC 10% Growth 12% WACC 6% NOPLAT 100 Debt 2,000 a) Calculate TEV. Make all necessary assumptions consistent with...
-
Samantha and Rashida are planning a trip to Padre Island, Texas, during spring break. Members of the varsity volleyball team, they are looking forward to four days of beach volleyball and...
-
Credit Sales Cash Collections Jan. 7 Austin Co. $14,200 Jan. 17 Austin Co. $8,000 15 Diaz Co. 6,600 24 Diaz Co. 4,400 23 Noble Co. 11,100 29 Noble Co. 11,100 Identify the balances that appear in the...
-
Write a program that generates a random number between 1 and 100 and asks the user to guess what the number is. If the user's guess is higher than the random number, the program should display "Too...
-
In France, Maggie decides not to greet Gustav, a French business associate, with a kiss, even though doing so is customary. Gustav does not look down on Maggie for avoiding this greeting. What type...
-
What sales and operations planning could do to improve a company's bottom line.
-
How different managing H&T organizations can be than managing manufacturing organizations
-
To what degree has emotional intelligence played a part in Alex Fergusons success?
-
What should be done by top level managers in order to carry out management without interference?
-
After reading this case, how would you best describe Shihs leadership style?
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App