Business, 31.12.2019 02:31 heiddy0122

Kayak co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash disbursements (excluding cash disbursements for loan principal and interest payments) for the first three months of next year.

cash
receipts cash
disbursements
january $ 525,000 $ 475,000
february 400,000 350,000
march 450,000 525,000

according to a credit agreement with the company’s bank, kayak promises to have a minimum cash balance of $30,000 at each month-end. in return, the bank has agreed that the company can borrow up to $150,000 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 repays loan principal with available cash on the last day of each month.
the company has a cash balance of $30,000 and a loan balance of $60,000 at january 1.

prepare monthly cash budgets for each of the first three months of next year.

(be certain to enter "0" wherever required. negative balance and loan repayment amount should be indicated with minus sign.)

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 13:30

Presented below is information for annie company for the month of march 2018. cost of goods sold $245,000 rent expense $ 36,000 freight-out 7,000 sales discounts 8,000 insurance expense 5,000 sales returns and allowances 11,000 salaries and wages expense 63,000 sales revenue 410,000 instructions prepare the income statement.

Answers: 2

Answer

Business, 22.06.2019 18:30

Afarmer is an example of what kind of producer?

Answers: 2

Answer

Business, 22.06.2019 19:30

He moto hotel opened for business on may 1, 2017. here is its trial balance before adjustment on may 31. moto hotel trial balance may 31, 2017 debit credit cash $ 2,283 supplies 2,600 prepaid insurance 1,800 land 14,783 buildings 72,400 equipment 16,800 accounts payable $ 4,483 unearned rent revenue 3,300 mortgage payable 38,400 common stock 59,783 rent revenue 9,000 salaries and wages expense 3,000 utilities expense 800 advertising expense 500 $114,966 $114,966 other data: 1. insurance expires at the rate of $360 per month. 2. a count of supplies shows $1,050 of unused supplies on may 31. 3. (a) annual depreciation is $2,760 on the building. (b) annual depreciation is $2,160 on equipment. 4. the mortgage interest rate is 5%. (the mortgage was taken out on may 1.) 5. unearned rent of $2,580 has been earned. 6. salaries of $810 are accrued and unpaid at may 31

Answers: 2

Answer

Business, 23.06.2019 01:40

Which of the following statements is incorrect? select one: a. personal creditors have first claim on partnership assets.b. partnerships are subject to dual taxation.c. no law requires partners to create a written partnership agreement, but it's smart to do so.d. partnership has limited life and unlimited liability.

Answers: 3

Answer

You know the right answer?

Kayak co. budgeted the following cash receipts (excluding cash receipts from loans received) and cas...

Questions