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Question - Karim Corp. requires a minimum $9,000 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 July 1 is $9.400 and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow:
July
August
September
Cash receipts
$25,000
$33,000
$41,000
Cash disbursements
29,500
31,000
33,000
Prepare a cash budget for July, August and September.
From the following data for Acoustic Sales, calculate the receipts from accounts receivable for September, October and November of 2016.
Prepare the journal entries for both the date of declaration and the date of distribution.
Determine the unit contribution margin and the break-even volume in units and in dollars per month. What sales volume in units and in dollars per month will be necessary to produce an operating income equal to a 30 percent annual return on Teguh's $4..
suppose the tax rate is 0 for taxable income less than 0.for positive taxable income up to and including 25000 the tax
write an email response in which you address the following pointsdetermine which project might be implemented and why
the following table presents generic motors companys production budget. gms inventory policy is to have ending
The contributed equity of Logan Dairy Limited as at 1st January 2016 was $2,000,000 consisting of 1,000,000 ordinary shares issued at a price of $2 per ordinary share. Prepare journal entries (without narrations) to record all transactions for the ..
grays books amp music inc. reported the following selected information at march 31.2014total current assets260961total
nilani company purchased 100 arapaho company bonds on april 12007. the bonds pay interest semiannually on march 31 and
An invoice for 50000 dollar dated feb 22 has payment terms 4/5, 3/20, n/30. A partial payment of 27000 was made on mar 10 a. How much was credeted to the account b. Determine the outstanding balance after this partial payment.
On March 2, 2010, the Dawson Corporation acquired 5,000 common shares, representing a 1% interest in the Foreman Corporation, for $60,000.
What is the purpose of a statement of cash flows? What are cash equivalents, and why are they included with cash on a statement of cash flows?
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