Business, 08.04.2020 02:09 kaitp0726

The following informationis drawn from Royal Industries cash budget

Cash Receipts 40,000

Beg, Cash Bal. 10,000

Cash payment 48,000

Desired ending cash cushion 5,000

If there is a cash shortage, the company borrows money. if a surplus occurs funds are used to repay loans or ot invest in short-term assests. The company had no debt before January 1st. The amounted "needed" to borrow or the amount "available" for repayment of debt in Januar would be

a. 2000 available

b. 3,000 needed

c. 7000 available

d 13,000 needed

If there is a cash shortage, the company borrows money. If a surplus occurs funds are used to repay loans or to invest in short-term assests. All borrowing, repayments, and interest payments occur on the last day of themonth. The interest rate is 1% per month. The amount of interest expense incurred for January is:

a. 20

b. $30

c. $50

d. None of the aove

B. the amount of interest paid in February would be

a. $50

b. $300

c. $500

d. $30

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 21:20

Which of the following best explains why large companies pay less for goods from wholesalers? a. large companies are able to pay for the goods they purchase in cash. b. large companies are able to increase the efficiency of wholesale production. c. large companies can buy all or most of a wholesaler's stock. d. large companies have better-paid employees who are better negotiators.

Answers: 2

Answer

Business, 22.06.2019 22:30

Experts are particularly concerned about four strategic metal resources that are important for the u.s. economy and military strength, and that must be imported. what percentage does the u.s. import? *

Answers: 2

Answer

Business, 22.06.2019 23:00

Customers arrive at rich dunn's styling shop at a rate of 3 per hour, distributed in a poisson fashion. rich can perform an average of 5 haircuts per hour, according to a negative exponential distribution.a) the average number of customers waiting for haircuts= customersb) the average number of customers in the shop= customersc) the average time a customer waits until it is his or her turn= minutesd) the average time a customer spends in the shop= minutese) the percentage of time that rich is busy= percent

Answers: 3

Answer

Business, 23.06.2019 00:10

Warren company plans to depreciate a new building using the double declining-balance depreciation method. the building cost $870,000. the estimated residual value of the building is $57,000 and it has an expected useful life of 20 years. assuming the first year's depreciation expense was recorded properly, what would be the amount of depreciation expense for the second year?

Answers: 2

Answer

You know the right answer?

The following informationis drawn from Royal Industries cash budget

Cash Receipts 40,00...

Questions