Solution-Maintain a balance at the end of each quarter

Maintain a balance at the end of each quarter

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Reference no: EM13339312

Nemani Corporation is projecting a cash balance of $31,785 in its December 31, 2013, balance sheet. Nemani schedule of expected collections from customers for the first quarter of 2013 shows total collections of $180,885. The schedule of expected payments for direct materials for the first quarter of 2013 shows total payments of $40,200. Other information gathered for the first quarter of 2013 is: sale of equipment $3,392; direct labor $70,178, manufacturing overhead $34,583, and purchase of securities $12,372.

Selling and administrative expenses are projected to be $45,117; this figure includes $1,117 in depreciation expense on the office equipment. All costs and expenses will be paid in cash. Nemani wants to maintain a balance of at least $25,000 cash at the end of each quarter.

Reference no: EM13339312

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Maintain a balance at the end of each quarter

Reference no: EM13339312

Reference no: EM13339312

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