Dvidends are payable to shareholders of record on declaration date, 30 Uay Required: 1. Prepare a cash budget for the month ending July 31, 2021, indicating how much, if anything, Optimum will need to borrow to meet its minimum cash requirement. (Leave no cells blank enter "0" wherever required). ARROWROOT COMPANY Cash Budget for July 31, 2021 Total cash available before curent financing Less disbursements
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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- A companys controller is adjusting next years budget to reflect the impact of an expected 3 percent inflation rate. Listed below are selected items from next years budget before the adjustment. After adjusting for the 3 percent inflation rate, what is the companys total budget for the selected items before taxes for next year? a. 858,150 b. 860,412 c. 810,971 d. 858,971The controller of Optimum wishes to improve the company's control system by preparing a monthly cash budget. The following information relates to the month ending July 31, 2021: June 30, 2021, cash balance Dividends were declared on June 15* $130,000 44, 000 83,600 13,000 198,000 122,400 47,000 70, 000 Cash expenditures to be paid in July for operating expenses Depreciation expense Cash collections to be received Merchandise purchases to be paid in cash Equipment to be purchased for cash Optimum wishes to maintain a minimum cash balance of *Dividends are payable to shareholders of record on declaration date, 30 days after declaration. Required: 1. Prepare a cash budget for the month ending July 31, 2021, indicating how much, if anything, Optimum will need to borrow to meet its minimum cash requirement. (Leave no cells blank - enter "O" wherever required).The controller of Big River Inc. wishes to improve the company's control system by preparing a monthly cash budget. The following information relates to the month ending May 31, 2024 April 30, 2024, cash balance Dividends were declared on April 15 Cash expenditures to be paid in May for operating expenses Depreciation expense Cash collections to be received Merchandise purchases to be paid in cash Equipment to be purchased for cash Big River wishes to maintain a minimum cash balance of $122,000 40,000 81,600 12,200 194,000 120,400 45,800 62,000 "Dividends are payable to shareholders of record on declaration date, 30 days after declaration Required: 1. Prepare a cash budget for the month ended May 31, 2024, indicating how much, if anything. Big River will need to borrow to meet its minimum cash requirement. (Leave no cells blank - be certain to enter "0" wherever required.)
- The controller of Optimum wishes to improve the company’s control system by preparing a monthly cash budget. The following information relates to the month ending July 31, 2021: June 30, 2021, cash balance $ 130,000 Dividends were declared on June 15* 44,000 Cash expenditures to be paid in July for operating expenses 83,600 Depreciation expense 13,000 Cash collections to be received 198,000 Merchandise purchases to be paid in cash 122,400 Equipment to be purchased for cash 47,000 Optimum wishes to maintain a minimum cash balance of 70,000 *Dividends are payable to shareholders of record on declaration date, 30 days after declaration. Required: 1. Prepare a cash budget for the month ending July 31, 2021, indicating how much, if anything, Optimum will need to borrow to meet its minimum cash requirement. (Leave no cells blank - enter "0" wherever required). 2. Which of the following statement is true? a) The income…The controller of Optimum wishes to improve the company’s control system by preparing a monthly cash budget. The following information relates to the month ending July 31, 2021: June 30, 2021, cash balance $ 130,000 Dividends were declared on June 15* 44,000 Cash expenditures to be paid in July for operating expenses 83,600 Depreciation expense 13,000 Cash collections to be received 198,000 Merchandise purchases to be paid in cash 122,400 Equipment to be purchased for cash 47,000 Optimum wishes to maintain a minimum cash balance of 70,000 *Dividends are payable to shareholders of record on declaration date, 30 days after declaration. Required: 1. Prepare a cash budget for the month ending July 31, 2021, indicating how much, if anything, Optimum will need to borrow to meet its minimum cash requirement. (Leave no cells blank - enter "0" wherever required). The controller of Optimum wishes to improve the company’s control…The controller of Ultramint Company wishes to improve the company's control system by preparing a monthly cash budget. The following information relates to the month ending July 31, 2008. June 30, 2008 cash balance ... Dividends to be declared on July 15* Cash expenditures to be paid in July for operating expenses Amortization expense.... Cash collections to be received ... $ 90,000 24,000 73,600 9,000 178,000 112,400 41,000 50,000 Merchandise purchases to be paid in cash Equipment to be purchased for cash. …….. Ulramint Company wishes to maintain a minimum cash balance of .... *Dividends are payable to shareholders of record on declaration date, 30 days after declaration. Required: Prepare a cash budget for the month ended July 31, 2008, indicating how much, if anything, Ultramint will need to borrow to meet its minimum cash requirement.
- a) The business needs to have a sense of its future cashflows and therefore requires the preparation of the following:▪ A schedule of budgeted cash collections for trade receivables (sales on account) for each of the months October to December. ▪ A schedule of expected cash disbursements for accounts payable (purchases on account)for each of the months October to December. ▪ A cash budget, with a total column, for the quarter ending December 31, 2021, showing the expected cash receipts and payments for each month and the ending cash balance for each of the three months, given that no financing activities took place.The controller of Arrowroot Company wishes to improve the company’s control system by preparing a monthly cash budget. The following information relates to the month ending July 31, 2021: June 30, 2021, cash balance $ 122,000 Dividends were declared on June 15* 40,000 Cash expenditures to be paid in July for operating expenses 81,600 Depreciation expense 12,200 Cash collections to be received 194,000 Merchandise purchases to be paid in cash 120,400 Equipment to be purchased for cash 45,800 Arrowroot Company wishes to maintain a minimum cash balance of 62,000 *Dividends are payable to shareholders of record on declaration date, 30 days after declaration. Required: 1. Prepare a cash budget for the month ended July 31, 2021, indicating how much, if anything, Arrowroot will need to borrow to meet its minimum cash requirement. Leave no cells blank - be certain to enter "0" wherever requiredRequired:(a) The business needs to have a sense of its future cash flows and therefore requires thepreparation of the following:▪ A schedule of budgeted cash collections for trade receivables (sales on account) for each ofthe months January to March. ▪ A schedule of expected cash disbursements for accounts payable (purchases on account)for each of the months January to March. ▪ A cash budget, with a total column, for the quarter ending March 31, 2022, showing theexpected cash receipts and payments for each month and the ending cash balance for eachof the three months, given that no financing activities took place.
- Required: (a) The business needs to have a sense of its future cash flows and therefore requires the preparation of the following:▪ A schedule of budgeted cash collections for trade receivables (sales on account) for each of the months January to March. ▪ A schedule of expected cash disbursements for accounts payable (purchases on account)for each of the months January to March. ▪ A cash budget, with a total column, for the quarter ending March 31, 2022, showing the expected cash receipts and payments for each month and the ending cash balance for each of the three months, given that no financing activities took place. (b) Another team member who is preparing the Budgeted Balance Sheet for the business for the same quarter ending March 31, 2022 and has asked you to furnish him with the figures for the expected trade receivables and payables to be included in the statement. Is that a reasonable request? If yes, what should these amounts be? (c) Upon receipt of the budget, the team…Required: The business needs to have a sense of its future cashflows and therefore requires the preparation of the following: A schedule of budgeted cash collections for trade receivables (sales on account) for each of the months October to A schedule of expected cash disbursements for accounts payable (purchases on account) for each of the months October to December. A cash budget, with a total column, for the quarter ending December 31, 2021, showing the expected cash receipts and payments for each month and the ending cash balance for each of the three months, given that no financing activities took Another team member who is preparing the Budgeted Balance Sheet for the business for the same quarter and has asked you to furnish him with the figures for the expected trade receivables and payables to be included in the statement at December 31, 2021. Is that a reasonable request? If yes, what should these amounts be? Upon receipt of the budget the team manager has now informed…a .Prepare an estimate of cash position for three months from April to June b. Based on the budget prepared, evaluate the cash position of the comupany, give your comments and provide suitable suggestion to the management on effective cash managenent.