This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Quail Industries is preparing its cash budget for the third quarter of the current year. Sales for ... (Read 101 times)

dongbo

  • Full Member
  • ***
  • Posts: 137
on: Feb 5, 2023
Quail Industries is preparing its cash budget for the third quarter of the current year. Sales for the third quarter are budgeted at $696,000 ($232,000 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 $38,400, and the Accounts Receivable (all related to June sales) balance is $40,800. Operating expenses for the quarter are budgeted at $371,200, which includes $14,400 of depreciation. Cash expenses are paid in the month incurred. Cash purchases for merchandise inventory are budgeted at $313,600 for the quarter. To prepare for the busy fourth quarter, Quail's desired cash balance on September 30 is $120,000. How much financing will the company need at the end of the third quarter?
◦ $15,200
◦ $29,600
◦ $61,600
◦ $116,800
Managerial Accounting ¦ Davis ¦ 4th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by dongbo on Feb 5, 2023

ealonif

  • Full Member
  • ***
  • Posts: 185
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.
Answer Preview
Only 57% of students answer this correctly


dongbo

  • Member
  • Posts: 137
Reply 2 on: Feb 5, 2023
YES! Correct, THANKS for helping me on my review

jordangronback

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own
Observed Mother–Child Arguments at Five Time Points Over an Eight-Year Period Observed Mother–Child Arguments at Five Time Points Over an Eight-Year Period
Preparing a Smear Preparing a Smear
Honey should never be given to children younger than one year of age Honey should never be given to children younger than one year of age
US federal budget deficit/surplus and debt US federal budget deficit/surplus and debt
Nitin earns $48,000 per year. Determine his gross earnings for each pay period if he is paid ... Nitin earns $48,000 per year. Determine his gross earnings for each pay period if he is paid ...
Video: Chemical Equilibrium between N2O4 (colorless gas) and NO2 (brown gas)

For a complete list of videos, visit our video library