Calculating the Cash Budget [LO3] Here are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of 2015:
April May June
Credit Sales $374,400 $349,500 $420,500
Credit purchases $148,900 $169,300 $200,300
Cash purchases:
Wages, taxes and expenses
Interests
Equipment purchases $54,340
12,580
88,800 $70,300
12,580
135,000 $75,170
12,580
0
The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase.
In March 2015, credit sales were $235,000 and credit purchases were $161,300. Using this
information, complete the following cash budget: Please post your calculations (i did my own I need some verification. thank you)
April May June
Beginning Cash Balance $135,000 187,200
Cash receipts 73,700 224,640
Cash collection from credit sales:
Total Cash Available 73,700
208,700
Cash disbursements 155,720
Purchases
Wages, taxes, and expenses 54,340
Interest 12,580
Equipment purchases 88,800
Total cash disbursements 155,720
Ending Cash Balance 52,980

Presented below is a list of possible transactions. analyze the effect of the 18 transactions on the financial statement categories indicated. transactions assets liabilities owners’ equity net income 1. purchased inventory for $80,000 on account (assume perpetual system is used). 2. issued an $80,000 note payable in payment on account (see item 1 above). 3. recorded accrued interest on the note from item 2 above. 4. borrowed $100,000 from the bank by signing a 6-month, $112,000, zero-interest-bearing note. 5. recognized 4 months’ interest expense on the note from item 4 above. 6. recorded cash sales of $75,260, which includes 6% sales tax. 7. recorded wage expense of $35,000. the cash paid was $25,000; the difference was due to various amounts withheld. 8. recorded employer’s payroll taxes. 9. accrued accumulated vacation pay. 10. recorded an asset retirement obligation. 11. recorded bonuses due to employees. 12. recorded a contingent loss on a lawsuit that the company will probably lose. 13. accrued warranty expense (assume expense warranty approach). 14. paid warranty costs that were accrued in item 13 above. 15. recorded sales of product and related service-type warranties. 16. paid warranty costs under contracts from item 15 above. 17. recognized warranty revenue (see item 15 above). 18. recorded estimated liability for premium claims outstanding.

Carrie works at a canned food production factory. the government wanted to give a boost to the salt industry, so it lined up numerous subsidies and tax exemptions for the sector. this lead to a decrease in production costs. this also meant that consumers could access canned foods at a lower price, which lead to an increase in demand for the product. which kind of economic system is carrie’s company dealing with? carrie’s company is dealing with a/an economy.

Which of the following is a benefit of a hat? it has a sports team logo on it. it makes the wearer look cool. it is red. it costs $12.