Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. answer 21-1 and 21-2give me the calculation proces

answer 21-1 and 21-2give me the calculation process Activity 21-1 The beginning cash balance...

60.1K

Verified Solution

Question

Accounting

image

answer 21-1 and 21-2give me the calculation process

Activity 21-1 The beginning cash balance is $20,000. Sales are forecasted at $800,000 of which on credit 70% of credit sales are expected to be expenditures for the year are forecasted at $500,000. Accounts receivable fro accounting periods totaling $12,000 will be collected in the current year. The required to make a $20,000 loan payment and an annual interest payment on the year. The loan balance as of the beginning of the year is $120,000, and the annual interest rate is 10%. 80% will be collected in the year of sale. Cash vable from previous company is last day of the Instructions How much will be reported as 'cash' on the budgeted balance sheet? 21-2 Hease Company is preparing its master budget for 2010. Relevant data pertaining to its sales budget are as follows Sales for the year are expected to total 6,000,000 units. Quarterly sales are 25%, 30%, 15%, and 30%, respectively. The sales price is expected to be $2.00 per unit for the first quarter and then be increased to $2.30 per unit in the second quarter Instructions Prepare a sales budget for 2010 for Hease Company

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

Imagine that proportion p = 0.82 of adults in a large city are married, but that...

Chemistry
1.2K views

You are given a solution and asked to analyze it for the cations Ag+, Ca2+, and...

Physics
1.2K views

A.) Sunlight strikes a piece of crown glass at an angle of incidence of 31.5deg. Calculate...

Algebra
1.2K views

KSJ between 12 00 noon and 1 00 pm are the minute and hour hands...

Accounting
1.2K views

question 1 a. The audit planning goes through a systematic procedure, demonstrate five steps involved...

Accounting
1.2K views

A company uses cost-volume-profit analysis to examine current performance and to make decisions for its...

Accounting
1.2K views

Do you agree with the assertion that any and all associations that SEC registrants have...

Accounting
1.2K views

please help Eric Moser is an hourly employee...

Accounting
1.2K views

ow first we calculate misstatement as per sample value categories as follows:- Stratum/Category...

Accounting
1.2K views

Please post correct answer ~ Thank you :) 00 Gorman and Morton form a...

Finance
1.2K views

1 considered when evaluating decision rules? Which of the following element/s should be capital budgeting...

Accounting
1.2K views

Exercise 24-5 (Algo) Accounting rate of return LO P2 Information for two alternative projects involving...