Question regarding memphis corporation

Assignment Help Accounting Basics

Reference no: EM13257602

Memphis Corporation has a cash balance of $200,000.00 on1/1/2008. The company's sales budget for the year was$500,000.00. However, only 80% of the sales for the year arecollectible during the year. The company's expected cash outflow for the year was expected to be $800,000.00. What is theexpected final cash balance? Is it a cash surplus or deficit?

Reference no: EM13257602

Questions Cloud

Explain reaction assuming first-order kinetics : After 52.0 min, 18.0% of a compound has decomposed. What is the half-life of this reaction assuming first-order kinetics

Determine balance in prepaid insurance account : If beginning balance in prepaid insurance was $500 and$2,500 was paid for insurance premium during year, ending balance in prepaid insurance account (after the aboveadjusting entry) would be?

What are examples of unusual or dysfunctional costing : What are examples of unusual or dysfunctional costing information that has been seen and/or decisions made using that costing information?

Calculate the net present value : Calculate the net present value (NPV) for the following twenty-year projects. Comment on the acceptability of each. Assume that the firm has an opportunity cost of 14%.

Question regarding memphis corporation : Memphis Corporation has a cash balance of $200,000.00 on1/1/2008. The company's sales budget for the year was$500,000.00. However, only 80% of the sales for the year arecollectible during the year.

Major steps in the standard-setting process : List the major steps in the standard-setting process. Explain the purpose of each of the primary documents thatresults from the process.

What is the purpose of internal controls : What is the purpose of internal controls? Be specific.

Explain the pressure in the tire exceed its maximum rating : An automobile tire has a maximum rating of 38 psi (gauge pressure). The tire is inflated (while cold) to a volume of 11.8L and a gauge pressure of 36.0 psi at a temperature of 12.0C. While driving on a hot day, the tire warms to 65.0C and its volu..

History and culture of city : The final paper should contain a minimum of 4 sources including at least one book; internet sources may include newspapers, magazines, and historical web sites.

User Account

All Pages