Carlquist company makes and sells a product

Assignment Help Financial Accounting

Reference no: EM13923845

The Carlquist Company makes and sells a product called Product K. Each unit of Product K sells for $32 dollars and has a unit variable cost of $26. The company has budgeted the following data for November:
	Sales of $1,724,000, all in cash.
	A cash balance on November 1 of $52,000.
	Cash disbursements (other than interest) during November of $1,735,300.
	A minimum cash balance on November 30 of $93,000.
If necessary, the company will borrow cash from a bank. The borrowing will be in multiples of $1,000 and will bear interest at 2% per month. All borrowing will take place at the beginning of the month. The November interest will be paid in cash during November.
The amount of cash needed to be borrowed on November 1 to cover all cash disbursements and to obtain the desired November 30 cash balance is:

$54,000

$100,000

$53,000

$99,000

Reference no: EM13923845

Questions Cloud

Corrections and delinquency intervention/prevention programs : Corrections and Delinquency Intervention/Prevention Programs. Use the University Library to locate a journal article encompassingsuch topics as: corrections, jails, prisons, rehabilitation, or boot camps. You can use your research in your Final Pa..

Implication of the fourdrive theory of motivation : According to expectancy theory, an unwanted reward has: The main implication of the fourdrive theory of motivation is that ABC Corp. brought in a performancebased reward system that accurately identified employees who performed better than others...

Write the source code for each class in a separate file : Write the source code for each class in a separate file, which must have the same name as the class name together with the extension. java. Class names commence with a capital letter

What is the price to earnings ratio : The following information is available for the Oil Creek Corporation. Accounts receivable $19,000. Sales $195,000. Current assets $36,000. Total assets $147,000. Debt $90,000. Long term debt $48,000. Current liabilities $41,000. Profit margin 6% Numb..

Carlquist company makes and sells a product : The Carlquist Company makes and sells a product called Product K. Each unit of Product K sells for $32 dollars and has a unit variable cost of $26

Highest level of employee involvement : (blank) is the tendency to experience stronger negative emotions when losing something of value than the positive emotions experienced when gaining something of equal value. Which of the following decisionmaking activities tends to make the most u..

Goals of juvenile confinement-special populations : Goals of Juvenile Confinement. In the Final Paper, you must address the issue of treatment versus punishment.This discussion is designed to help everyone with this debate that shapes juvenile justice in every state. There are many thoughts that cro..

Required rate on the project : Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be wort..

Perform poorer than lowcohesion teams : Highcohesion teams perform poorer than lowcohesion teams when Which of the following are two features that distinguish virtual teams from conventional teams

User Account

All Pages