Mathematics, 05.11.2020 08:50 jaylon78
CraftCo, Inc.' projected sales for the first six months of 2021 are given below:
Jan. $500,000 April $490,000
Feb. $740,000 May $740,000
Mar. $380,000 June $610,000
40% of sales are collected in cash at time of sale, 50% are collected in the month following the sale, and the remaining 10% are collected in the second month following the sale.
Cost of goods sold is 60% of sales. Purchases are made in the month prior to the sales, and payments for purchases are made in the month of the sale. Total other cash expenses are $40,000/month.
The company's cash balance as of February 28, 2021 will be $25,000. Excess cash will be used to retire short-term borrowing (if any). CraftCo, Inc. has no short term borrowing as of February 28, 2021. Assume that the interest rate on short-term borrowing is 1% per month.
The company must have a minimum cash balance of $15,000 at the beginning of each month.
Required:
Prepare a cash budget for the months of March to May 2021.
Answers: 3
Mathematics, 21.06.2019 14:00
Ataxi cab charges $1.75 for the flat fee and $0.25 for each time. write an in equality to determine how many miles eddie can travel if he has $15 to spend.
Answers: 1
Mathematics, 21.06.2019 17:40
Find the volume of the described solid.the solid lies between planes perpendicular to the x-axis at x = 0 and x=7. the cross sectionsperpendicular to the x-axis between these planes are squares whose bases run from the parabolay=-31x to the parabola y = 30/x.a) 441b) 147c) 864d) 882
Answers: 1
Mathematics, 21.06.2019 18:40
Which statements regarding efg are true? check all that apply.
Answers: 1
Mathematics, 21.06.2019 20:30
What is the radius of a circle with an area of 78.5 cubic inches? use 3.14 for pie
Answers: 2
CraftCo, Inc.' projected sales for the first six months of 2021 are given below:
Jan. $500,000 Apri...
Business, 05.09.2021 14:00
Biology, 05.09.2021 14:00
Health, 05.09.2021 14:00
Physics, 05.09.2021 14:00
Business, 05.09.2021 14:00
Mathematics, 05.09.2021 14:00
Chemistry, 05.09.2021 14:00
History, 05.09.2021 14:00
Social Studies, 05.09.2021 14:00
English, 05.09.2021 14:00
History, 05.09.2021 14:00
Mathematics, 05.09.2021 14:00