Reference no: EM133145312
Question - Rich Company's cash balance in January 1st is $110,000 and they want to keep a minimum balance of at least $40,000 at all times. The company will borrow and repay funds in increments of $1,000 at a interest rate of 6% per annum. All borrowings happen on the first day of the period in which the funds are available. Assume interest on borrowing is only paid at the time principal repayments are made.
There are no cash sales and the beginning balance of receivable is expected to be collected in the 1st Quarter and is $155,000.Subsequent collections are 55% in the quarter when sales take place and 40% in the following quarter. The sales forecast for the coming quarters shows the following: 1st quarter $600,000 and 2nd quarter $750,000.
Direct materials of 225,000 and 285,500 are purchased and paid for in 1st and 2nd wuarter. Direct labour of 320,000 and 270,000 is incurred and paid for in the 1st and 2ns quarter. Factory overhead 61,000 will be incurred and paid each quarter. Equipment of 38,000 will be purchased and paid for in second quarter.
Required - Do a cash budget for the 1st and 2nd Quarter.
|
Compare and contrast the servant leadership model
: Compare and contrast the servant leadership model with at least one of the other models of leadership discussed in our text.
|
|
What amount of the donation is occ allowed to deduct
: What amount of the $400,000 donation is OCC allowed to deduct for tax purposes in 2021, what is the carryover to 2022, and when does the carryover expire
|
|
Describe how they generate revenue
: How do they engage customers (include all social media platforms and mobile) and how effective is each one? Give supporting information.
|
|
Discuss why increased outpatient services will be required
: Discuss why increased outpatient services will be required to improve revenue in a bundled care, accountable care, valued based environment
|
|
Do a cash budget for the quarter
: Direct materials of 225,000 and 285,500 are purchased and paid for in 1st and 2nd wuarter. Do a cash budget for the 1st and 2nd Quarter
|
|
Defend a child molester
: 1) You are a defense attorney working for the Public Defender, and you've just been assigned to defend a child molester.
|
|
Invest clients assets in bitcoin
: A 30 year old client asks; "I'm hearing a lot about Bitcoin millionaires. So, why aren't we investing in Bitcoin?" (Describe 3 reasons why or why not you would
|
|
How many months will it take you to pay off the card
: You owe $10,200 on a credit card with an interest rate of 16.99%. How many months (rounded to closest month) will it take you to pay off the card
|
|
Opinions regarding the topic mandatory vaccination
: List down the disagreements and opinions regarding the topic Mandatory Vaccination; Agree or Disagree
|