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The Oxford Company has budgeted sales revenues as follows:
Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on credit and 50% is paid in the month of purchase and 50% in the month following purchase. Budgeted inventory purchases are $65,000 in July, $45,000 in August, and $21,000 in September. Other budgeted cash receipts: (a) sale of plant assets for $12,350 in August, and (b) sale of new common stock for $16,850 in September. Other budgeted cash disbursements: (a) operating expenses of $6,750 each month, (b) selling and administrative expenses of $12,500 each month, (c) dividends of $19,000 will be paid in August, and (d) purchase of equipment for $6,000 cash in September. The company has a cash balance of $10,000 at the beginning of August and wishes to maintain a minimum cash balance of $10,000 at the end of each month. An open line of credit is available at the bank and carries an annual interest rate of 12%. Assume that all borrowing is done on the first day of the month in which financing is needed and that all repayments are made on the last day of the month in which excess cash is available. Also assume that there is no outstanding financing as of August 1. Requirements: 1. What are the three sections of a Cash Budget, and what is included in each section? 2. Why is a Cash Budget so vital to a company? 3. What are the five basic principles of cash management that a company can follow in order to improve its chances of having adequate cash?
What are the different types of dividends that corporations may issue? When should a corporation pay dividends? Would you prefer a stock dividend or a cash dividend? Why?
Select 2 companies in the same industry. Using the Internet, conduct research to find the companies' current balance sheets, explain their capital structure, and calculate their EPS.
chateau sneuti is a family owned winery in the bordeau region of france. harvesting season in early fall is the busy
mr. ching was a prc resident and was employed as a sales manager by wang laboratories limited in hong kong. he gave you
email at work please respond to the following from the video take a position whether an organization has the right to
a receiving department compares inventory items received with copies of purchase orders. the purchase orders list the
What circumstances allowed the alleged frauds happen (e.g., internal control failures, lack of background checks, missing policies and procedures) - be specific?
a company has a standard cost system in which fixed and variable manufacturing overhead costs are applied to products
Journalize the revenue transaction, and indicate
Allowance for Doubtful Accounts has an unadjusted balance of $1,100 at the end of the year, and an analysis of customer's accounts indicates doubtful accounts of $12,900. Which of the following records the proper provision for doubtful accounts?
Determine the number of grooming kits Scott must sell per show to break even.
answer the following question. gonser mcgiller corporationtrial balance 000sdecember
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