Gretchen’s Short-Term Budget Worksheet Spending Purpose Income Date Source Amount Date Amount $423.52 | 6/03/20 50.00 | 6/12/20 423.52 | 6/15/20 25.00 | 6/23/20 8.92 | 6/25/20 6/07/-- wages new sweater $ 33.86 6/09/-- birthday gift car insurance 48.29 6/21/-- rent 350.00 wages babysitting job savings interest 6/23/-- credit card bill 296.04 telephone bill groceries doctor's visit 6/30/-- 53.41 6/26/20 69.30 6/29/20 50.00 Totals $930.96 $900.90 Which sources of her income may not be the same from month to month?
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- Gretchen's Short-Term Budget Worksheet Spending Purpose Income Date Source Amount Date Amount 6/07/-- wages $423.52 6/03/20 new sweater $ 33.86 6/09/-- birthday gift 50.00 6/12/20 car insurance 48.29 6/21/-- 423.52 | 6/15/20 rent 350.00 wages babysitting job savings interest 6/23/-- 25.00 6/23/20 credit card bill 296.04 6/25/20 6/26/20 telephone bill groceries doctor's visit 6/30/-- 8.92 53.41 69.30 6/29/20 50.00 Totals $930.96 $900.90 1. How much was Gretchen able to save in June?* CengageNOWv2 | Online teachin x ome keAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false еBok Show Me How Print Item Personal Budget At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough ca December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: Cash balance, September 1 (from a summer job) $9,250 Purchase season football tickets in September 160 Additional entertainment for each month: 250 Pay fall semester tuition in September 4,800 Pay rent at the beginning of each month 600 Pay for food each month. 550 Pay apartment deposit on September 2 (to be returned December 15) 600 Part-time job earnings each month (net of taxes) 1,200 a. Prepare a cash budget for September, October, November, and December. Use the minus sign to indicate cash outflows, a…gageNOWv2 | Online teachin x akeAssignment/takeAssignmentMain.do?invoker=8&takeAssignmentSessionlocator=8inprogress=false eBook Show Me How Print Item Personal Budget At the beginning of the school year, Katherine Malloy decided to prepare a cash budoet for the months of September, October, November, and December. The budget must plan for enough cas on December 31 to pay the spring semester tuition, which is the same as the fall tuition The following information relates to the budget: $6,210 Cash balance, September 1 (from a summer job) 80 Purchase season football tickets in September 220 Additional entertainment for each month 3,400 Pay fall semester tuition in September 300 Pay rent at the beginning of each month 170 Pay for food each month 400 Pay apartment deposit on September 2 (to be returned December 15) 770 Part-time job earnings each month (net of taxes) a. Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except an…
- Part D Ken has created a budget, but he wonders if the budget fits his needs. Why would it be useful for Ken to keep records of his expenses and examine them at the end of the year? BIUX² X₂ 15px Space used (includes formatting): 0/15000 O A 2 6 13 8 19 Apr 3 11:36 O* CengageNOWv2 | Online teachin x v.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false еВook Show Me How E Print Item Cash Budget The controller of Mercury Shoes Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: June July August Sales $160,000 $185,000 $200,000 Manufacturing costs 66,000 82,000 105,000 Selling and administrative expenses 40,000 46,000 51,000 Capital expenditures 120,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 60% are expected to be collected in the month following the sale and the remainder the following month (second month after sale). Depreciation, insurance, and property tax expense represent $12,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in February, and the annual property taxes are paid in November. Of the remainder of the manufacturing…26. A hospital has provided you with the following budget information for AprilCash collections P876,000April 1 cash balance 23.000Cash disbursements 978,600The hospital has a policy of maintaining a minimum cash balance of P20,000 and borrowsonly in P1,000 increments. How much will the hospital borrow in April?a. P80,000b. P79,600c. P99,000d. P100,000
- Deleon Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the data shown below. Sales budget: Anticipated volume in units Unit selling price Production budget: Desired ending finished goods units Beginning finished goods units Direct materials budget: Direct materials per unit (pounds) Desired ending direct materials pounds Beginning direct materials pounds Cost per pound Direct labor budget: Direct labor time per unit Direct labor rate per hour Budgeted income statement: Total unit cost Product JB 50 400,000 $20 30,000 25,000 2 30,000 40,000 $3 0.4 $12 $13 Product JB 60 200,000 $25 15,000 10,000 3 10,000 15,000 $4 0.6 $12 $20 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $560,000 for product JB 50 and $360,000 for product JB 60, and administrative expenses of $540,000 for product JB 50 and $340,000 for product…Good night Please answer a,b,c Thanks in advance Makers Ltd. manufactures and sells two products, Abba and Baba. In July 2018 Makers’Budget Department gathered the following data in order to prepare the individual budgets inthe master budget for 2019: 2019 Projected Sales:Product Unit PriceAbba 80,000 $ 190Baba 60,000 $ 270 2019 Inventories in Units: Expected Target:Product January 1, 2019 December 31, 2019Abba 22,000 26,000Baba 9,000 10,000 To produce 1 unit of Abba and Baba, the following direct materials are used:Direct Material Unit Abba BabaA Pounds 5 6B Pounds 3 4C…ezto.mheducation.com/ext/map/index.html?_con3Dcon&external_browser%3D0&launchUrl%3Dhttps%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-g hapter 18- Problems i Saved Help Save & Exit The following is the sales budget for Yellowhead Inc. for the first quarter of 2018: 1 January February $235,000 March Sales $215,000 $258,000 Credit sales are collected as follows: 55% in the month of the sale, 30% in the month after the sale, and 15% in the second month after the sale. Skipped The accounts receivable balance at the end of the previous quarter was $99,000 ($69,000 of which was uncollected December sales). a. Calculate the sales for November. (Omit $ sign in your response.) November sales 24 b. Calculate the sales for December. (Round the final answer to 2 decimal places. Omit $ sign in your response.) December sales c. Calculate the cash collections from sales for each month from January through March. (Do not round intermediate calculations. Round the final answers to 2…
- 8. Fay Teng's expenditures for the past 3 months were: August, $1,735.50; September, $1,829.42; and October, $1,793.88. What is her average monthly expenditure? 9. You uce the utility comu.'sbudect praWor paving vour Vour -------. SA6:Docember S100 27 M Tu $94 10. aw-Hill Companies, Inc. All rights resererial Accounting || fall20 courses / ACCT2121_yasserg_fall20/ Final Exam_Fall2020/ Part One Which of the following statements is false? Select one: O a. In the merchandise purchases budget, the required purchases (in units) for a period is equal to the budgeted sales (in units) plus the beginning merchandise inventory (in units) minus the desired ending merchandise inventory (in units). Ob. A self-imposed budget is a budgeting process wherein person with responsibility for cost control prepares bis or her own budget estimates and submits them to the next higher level of management. Oc. The amount of raw materials to be purchased in a period can be determined by adding the desired ending inventory for raw materials to the production needs and then deducting the beginning inventory for raw materials. O d. The number of units to be produced in a period can be determined by adding the expected sales (in units) to the desired ending inventory (in units) and then deducting the beginning…local council's. 47.9% a budget is Spent Jorboge Callection on Jate Payes Pay S107.50. Per auarter in total Kate Charges, how much do they conribute in to Jarbage collection a