User Account

All Pages

Any excess cash is used to repay loans at month end

Assignment Help Cost Accounting
Reference no: EM13906877

Foyert Corp. requires a minimum $ 30,000 cash balance. If necessary, loans are taken to meet this requirement at a cost of 1% interest per month (paid monthly). Any excess cash is used to repay loans at month end. The cash balance on October 1 is $ 30,000 and the company has an outstanding loan of $ 10,000. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. Prepare a cash budget for October, November, and December.

2213_267-B-C-A-B (739).png

Round interest payments to the nearest wholedollar.

Reference no: EM13906877

Questions Cloud

Record journal entries-no entry is required state no entry : Blue Corporation, a U.S. manufacturer, sold goods to their customer in Hungary on December 12, 2014 for 6,000,000 Hungarian forints. The customer agreed to pay in Hungarian forints in 30 days. Record the journal entries that Blue would need related t..
What is the set of nash equilibria for k m : What is the set of Nash equilibria for k m? For k = m = 1, is the game the same (except for the names of the actions) as any considered so far in this chapter?
Disadvantages to incorporating and utilizing technology : disadvantages to incorporating and utilizing technology in an organization?
Proportionate non liquidating distribution : Pablo has a $63,000 basis in his partnership interest. On May 9 of the current tax year, the partnership distributes to him, in a proportionate non liquidating distribution, cash of $25,000, cash basis receivables with an inside basis of $0 and a fai..
Any excess cash is used to repay loans at month end : Foyert Corp. requires a minimum $ 30,000 cash balance. If necessary,
Cognitive and affective aspects of creativity : The cognitive and affective aspects of creativity may be its most important components. Which of these aspects is likely to have the greater effect on the other? Why
Snoopy cache systems and directory based systems : Illustrate how Snoopy Cache Systems and Directory Based Systems operate in the following scenario: Handraw the statuses of the three steps corresponding to the scenario for each system.
What is the significance of the word proportionate : What is the difference between the definition of a proportionate non-liquidating distribution and a proportionate liquidating distribution? What is the significance of the word proportionate?
What is the payoff of a person whose number is the highest : What is the payoff of a person whose number is the highest of the three? Can she increase this payoff by announcing a different number?

Reviews

Write a Review

Cost Accounting Questions & Answers

  Why do management concentrated on reducing fixed costs

Why do you think management concentrated on reducing fixed costs to put Auto, Inc. above its break-even point? As a shareholder of Auto, Inc., what concerns might you have about the company's massive cost cutting?

  What is the breakeven point in units for each type of shirt

What is the breakeven point in units for each type of shirt, assuming the sales mix is 2:1 in favor of men's shirts? What is the operating income, assuming the sales mix is 2:1 in favor of men's shirts?

  Calculate the taxable value of the fbt

Calculate the taxable value of the FBT for the car applying the statutory formula and what are the GST considerations for each party in regard to this arrangement (considering "supply")?

  What was the contribution margin impact

What are the relevant costs that impact the volume production decision(s) at the two locations?

  Distribution from liquidation of the partnership

Fowler and Ericson share income and losses equally. Determine the amount received by Fowler as a final distribution from liquidation of the partnership.

  Determine manufacturing cost per unit under variable costing

Burns produced 8,000 units and sold 6,000 units. Determine the manufacturing cost per unit under (a) absorption costing and (b) variable costing.

  Evaluate incorporation plan

Except the stock sale is an integral part of the incorporation plan

  What was the firms net income

What was the cash flow from operating activities and what was the firm's net income

  Grenfell company is preparing a cash budge for 2010 for

grenfell company is preparing a cash budge for 2010 for purchases of calvos. budgeted data are as followscost of goods

  Is an assets initial or cost basis simply its purchase price

Is an asset's initial or cost basis simply its purchase price? Explain. Compare the basis of property acquired via purchase, conversion from personal use to business or rental use, a nontaxable exchange, gift, and inheritance.

  Prepare journal entries to record each of these transactions

Prepare a trail balance on the trial balance tab. Be sure the trial balance is in balance, that the total debits equal the total credits. Do not proceed to the next step until the trial balance balances.

  Evaluate the annual net cost savings

Evaluate the annual net cost savings promised by the new etching machine.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd