Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. yes company has $9,000 in cash on hand on january

Yes Company has $9,000 in cash on hand on January 1 and has collected the...

70.2K

Verified Solution

Question

Accounting

Yes Company has $9,000 in cash on hand on January 1 and has collected the following budget data:
(Click the icon to view the budget data.)
Assume Yes has cash payments for selling and administrative expenses including salaries of $66,000 plus commissions of 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $8,500. Prepare a cash budget for January and February. Will Yes need to borrow cash by the end of Februarv?
Yes Company
Cash Budget
Two Months Ended January 31 and February 28
\table[[Beginning cash balance,,],[Cash receipts,January,],[Cash available,,],[Cash payments:,,],[Purchases of merchandise inventory,,],[Selling and administrative expenses,,]]
image

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

b.Illustrate the damages of blood capillaries during the disease process of diabetes.

Medical Sciences
Q

Discuss possible best courses of action when faced with an ethical decision in the workplace? What...

General Management
Q

Simplex Method Consider the following linear programming problem: max z = 6x1 + 3x2 - 9x2 - 9x3...

Advance Math
Q

(0.00/1.00 point)Use a system of linear equations with two variables and two equations to solve....

Calculus
Q

44 Which graph represents the following equation y x 1 A B C D 5...

Algebra
Q

Suppose that 1000 is invested at 8 compounded daily How much is in the account...

Algebra
Q

Redbird Inc. specializes in manufacturing coffee makers. Its operating information for the company's last year...

Accounting
Q

b) Headlands Ltd has a 70% interest in Sawmill Ltd, who in turn has a...

Accounting
Q

Pizza International, Inc., reported the following information (in thousands): Operating Activities ...

Accounting
Q

Required information The following information applies to the questions displayed below) in 2020, Zach is...

Accounting
Q

Product Life Cycle A product life cycle is a model that graphs the four stages...

Accounting
Q

Blue Water Kayak began operations on January 1, 2019. The owner invested $16,000 during the...

Accounting