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Author Question: Quail Industries is preparing its cash budget for the third quarter of the current year. Sales for ... (Read 29 times)

dongbo

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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
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Marked as best answer by dongbo on Feb 5, 2023

ealonif

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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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dongbo

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Reply 2 on: Feb 5, 2023
:D TYSM

strudel15

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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