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Kasik Co. budgeted the following cash receipts and cash disbursements for the first three months of next year.
According to a credit agreement with the company's bank, Kasik promises to have a minimum cash balance of $40,000 at each month-end. In return, the bank has agreed that the company can borrow up to $140,000 at an annual interest rate of 12%, paid on the last day of each month. The interest is computed based on the beginning balance of the loan for the month. The company has a cash balance of $40,000 and a loan balance of $80,000 at January 1.
Prepare monthly cash budgets for each of the first three months of next year. (Input all amounts as positive values except negative preliminary cash balance and repayment of loan to bank which should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)
Wild's Flowers sells $400 of flowers for a wedding and the customer pays with a bank credit card (e.g., VISA). Wild's Flowers must pay 3% to the credit card company for credit card transactions.
minor inc. had revenue of 572000 and expenses of 282000 for the current year. the company is subject to a 35 percent
60. Mason R. and Lily B. Hill, married and ages 34 and 32, live at 2240 Poplar Drive, Apt. 12, Louisville, KY 40241. Their Social Security numbers are 123-45-6789 and 123-45-6788, respectively.
assume that the following information was available for guy brown company. how would maria teresa vazquez and the other
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Determination of Taxable Gifts. In the current year, David gives $180,000 of land to David, Jr. In the current year, David's wife gives $200,000 of land to George and $44,000 cash to David, Jr. Assume the couple elects gift splitting for the curre..
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Discuss the current events in recent industrial history to reduce the usefulness of direct labor as the primary basis for allocating overhead to products. What is your view of this practice?
Hartzler Enterprises issued 8%, 8-year, $2,000,000 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2011, and are issued on that date. The discount rate of interest for such bonds on April 1, 20..
mateo inc. had the following inventory situations to consider at january 31 its year-end. agoods held on consignment
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