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Author Question: Trail Industries is preparing its cash budget for the third quarter of the current year. Sales for ... (Read 84 times)

acwiles

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on: Feb 5, 2023

Question 1

Many new businesses fail not because they are unprofitable, but because
◦ they do not have the expertise to maintain the business.
◦ there is a declining demand for the products.
◦ they run out of cash.
◦ they do not have adequate inventory.

Question 2

Trail Industries is preparing its cash budget for the third quarter of the current year. Sales for the third quarter are budgeted at $870,000 ($290,000 per month). Sales are 80% cash, with the remaining 20% on credit which is collected in the month following the month of sale. On June 30, the cash balance is $48,000, and the Accounts Receivable (all related to June sales) balance is $51,000. Operating expenses for the quarter are budgeted at $464,000, which includes $18,000 of depreciation. Cash expenses are paid in the month incurred. Cash purchases for merchandise inventory are budgeted at $392,000 for the quarter. What is the projected cash balance at the end of the third quarter?
◦ $131,000
◦ $4,000
◦ $73,000
◦ $113,000
Managerial Accounting ¦ Davis ¦ 4th Edition
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Marked as best answer by acwiles on Feb 5, 2023

hariet5

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Reply #1 on: Feb 5, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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acwiles

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Reply 2 on: Feb 5, 2023
Great answer, keep it coming :)

lindahyatt42

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Reply 3 on: Yesterday
:D TYSM

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