Introduction To Managerial Accounting
8th Edition
ISBN: 9781259917066
Author: BREWER, Peter C., Garrison, Ray H., Noreen, Eric W.
Publisher: Mcgraw-hill Education,
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Chapter IE, Problem 9IE
Statement of
Refer to the information pertaining to Endless Mountain Company that is provided in Integration Exercise 8. In addition to the budget schedules that you prepared in Integration Exercise 8, insert a new tab in your Microsoft Excel worksheet titled "Statement of Cash Flows/'
Required:
- Using the indirect method, calculate Endless Mountain Company’s estimated net cash provided by operating activities for 2017.
- Prepare the company's budgeted statement of cash flows for the year ended December 31. 2017.
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A company has completed the operating budget and the cash budget. It is now preparing the budgeted balance sheet. Please use the below image as your guide for the next 5 questions.
Identify the document that contains cash balance.*
A
B
C
D
E
If the company wants to find out the likely balance of cash in hand at the end of July, August and September 2021. Which of the following helps the company to fulfill their objective?
a. Purchase budget
b. Cash budget
c Sales budget
d. Materials budget
The controller of Optimum wishes to improve the company's control system by preparing a monthly cash budget. The following
information relates to the month ending July 31, 2021:
June 30, 2021, cash balance
Dividends were declared on June 15
Cash expenditures to be paid in July for operating expenses
Depreciation expense
Cash collections to be received
Herchandise purchases to be paid in cash
Equipment to be purchased for cash
Optimun wishes to naintain a ninimum cash balance of
$ 98,000
28, 000
75,600
9,800
182,000
114,400
42, 200
38,000
DIvidends are payable to shareholders of record on declaration date, 30 days after declaration.
Required:
1. Prepare a cash budget for the month ending July 31, 2021, indicating how much, if anything, Optimum will need to borrow to meet its
minimum cash requirement. (Leave no cells blank - enter "0" wherever required).
ARROWROOT COMPANY
Cash Budget for July 31, 2021
Total cash available before current financing
Less disbursements
Total disbursements
Chapter IE Solutions
Introduction To Managerial Accounting
Ch. IE - INTEGRATION EXERCISE I Different Costs for...Ch. IE - Absorption Costing, Variable Costing, Cost,...Ch. IE - Cash Budget, Income Statement, Balance Sheet,...Ch. IE - Prob. 4IECh. IE - Plantwide and Departmental Overhead Allocation;...Ch. IE - Normal Costing versus Actual Costing Darwin...Ch. IE - Prob. 7IECh. IE - Master Budgeting Endless Mountain Company...Ch. IE - Statement of Cash Flows Refer to the information...Ch. IE - Financial Statement Ratio Analysis Refer to the...
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