User Account

All Pages

What is the amount needed by the bank

Assignment Help Accounting Basics
Reference no: EM132643225

Question - Assume the following information for the month of August. June sales = $40,000; July sales = $65,000; August sales = $52,850. All sales are on account and are collected as follows: 20% in the current month, 50% in the month following, 25% in the second month following, and 5% uncollectible. The beginning cash balance is $14,670, with cash payments of $24,653. If the minimum cash balance is $50,000, what is the amount needed by the bank, or how much is available to pay towards the bank loan? Show the amount needed as a positive number.

Reference no: EM132643225

Questions Cloud

Prepare the journal entry for Arctic to record the sale : Assume the note indicates that Seneca is to pay Arctic the $39,600 due on the note on December 31, 2021. Prepare the journal entry for Arctic
Find what is the current price of the common stock : The company's last dividend was $1.15, beta is 1.95, market risk premium is 6.85%, and risk-free rate is 4.25%. What is the current price of the common stock?
Evaluate the person suicide potential : Evaluate the person's suicide potential according to the SAD PERSONS scale. Using APA format provide details of your assessment and the basis for your findings
What are non-parametric tests : What are non-parametric tests? What are they best used for? (advantages/disadvantages.)
What is the amount needed by the bank : The beginning cash balance is $14,670, with cash payments of $24,653. If the minimum cash balance is $50,000, what is the amount needed by the bank
Calculating the population standard deviation : Do we use different formulas for calculating the population standard deviation and the sample standard deviation? If you said yes to the above question
Blockchain with cryptocurrency bitcoin : The vast majority of the population associates Blockchain with cryptocurrency Bitcoin; however, there are many other uses of blockchain;
Determine how key regulations may impact nursing practice : Review the Resources and reflect on the mission of state/regional boards of nursing as the protection of the public through the regulation of nursing practice.
Measure australian teenagers perceptions of climate change : Is this an effective way to measure Australian teenagers' perceptions of climate change? Are there any shortcomings to this approach? Briefly explain your answe

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd