User Account

All Pages

What is the repayment for january

Assignment Help Managerial Accounting
Reference no: EM132557523

Ottawa Publishing has a line of credit with their bank and must keep a $10,000 minimum balance each month. There is no outstanding loan at the beginning of January. Loans can be borrowed and repaid in any amount. The cash balance on January 1 is expected to be $12,000.

Sales were $35,000 in December, and are budgeted to be $11,000 in January and $25,000 in February. All sales are on account and are collected 50% in the month of sale and 50% in the following month.

Purchases are budgeted to be $27,000 in January and $11,600 in February. Purchases are paid in full in the month of purchase.

All other expenses are listed below, and are all paid in cash in the month incurred:

Salaries $700 per month

Commissions 10% of sales per month

Rent $500 per month

Advertising $200 per month

A. IF WE MAKE A cash budget for January for Ottawa Publishing

Question 1: What is the repayment for January

Option a. $4,500

Option b. $4,500

Option c. $2,500

Option d. $3,500

Reference no: EM132557523

Questions Cloud

Compute the cost of goods manufactured and the cost of goods : General ledger of the Excellent Manufacturing Company. Compute the cost of goods manufactured and the cost of goods sold for the company for the year.
Dmaic-continuous improvement philosophy : Business writer Tom Peters has suggested that in making process changes, we should "Try it, test it, and get on with it."
Implications for the companies in the same industry : What are the implications for the companies in the same industry as your Walt Disney? Explain why, cite examples.
Make the journal entry for transaction on May : Göztepe 35 invested $15,000 to acquire 3,750 shares of Altinordu on March 15, 2016. Make the journal entry for transaction on May
What is the repayment for january : What is the repayment for January? Ottawa Publishing has a line of credit with their bank and must keep a $10,000 minimum balance each month.
Why is HDL considered the good cholesterol : Why is HDL considered the good cholesterol? Explain the role inflammation has in the development of atherosclerosis. Explain how each factor cause DVT.
What are the different types of accounting software programs : What are the different types of accounting software programs and what are the major differences between these programs? Please explain
Design a pre departure training for sending : Design a pre departure training for sending your employees from Pakistan to Australia?
What is the NPV : Profits of $31,000 every year for 3 years after which the project ends and NWC is recovered. No salvage value for the plant. What is the NPV

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Prepare a general fund statement of revenues

Prepare a General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance for the year ended June 30, 2012 and prepare a General Fund Balance Sheet as of June 30, 2012.

  Prepare the january income statement for the company

Prepare the January income statement for the company showing profits by sales territories. Conclude your statement with income from operations

  Prepare profit reports for software and consulting assuming

Which provides the best information on profitability: a single overhead cost pool with head- count as the allocation base, or multiple cost pools using headcount, sales, and space occupied?

  What would factory overhead allocate per unit for each table

What would the factory overhead allocated per unit for each table be, using the department factory overhead allocation rates?3,750 units of production

  Evaluate suppliers under a just-in-time system

Evalate Primary factors that manufacturers would use to evaluate suppliers under a just-in-time system would include all of the on-time delivery

  Job order costing in manufacturing company

Record the preceding events in a horizontal statements model. In the cash flows column, designate the cash flow as operating activities (OA), investing activities (IA), or financing actives (FA)

  What is the labor efficiency variance for march

What is the labor efficiency variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable)

  Which function of management involves filling

Which function of management involves filling, and keeping filled, the positions in the organization structure?

  Solve the payback period in years

Calculate the payback period in years (to the nearest two decimal places). Show all work. Advise the hospital if this is a good idea.

  Prepare the journal entry to record the april return

Prepare the journal entry to record the April 8 return of merchandise and prepare the journal entry to record the April 10 payment to Reece Company.

  Analyze two managerial plans

A cost behavior analysis indicates that 75% of the cost of goods sold are variable. 50% of the selling expenses are variable, and 25% of the administrative expenses are variable.

  Find what is the minimum price per unit that would produce

Find What is the minimum price per unit that would produce a positive contribution margin? Round your answer to two decimal places.

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