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Open Question: I don’t understand how to set this up as a cash budget i am so new at this.?
4-6A. (Cash budget) The Sharpe Corporation’s projected sales for the first eight months of 2004
are as follows:
January $ 90,000 May $300,000
February 120,000 June 270,000
March 135,000 July 225,000
April 240,000 August 150,000
Of Sharpe’s sales, 10 percent is for cash, another 60 percent is collected in the month following
sale, and 30 percent is collected in the second month following sale. November and December
sales for 2003 were $220,000 and $175,000, respectively.
Sharpe purchases its raw materials two months in advance of its sales equal to 60 percent of their
final sales price. The supplier is paid one month after it makes delivery. For example, purchases
for April sales are made in February and payment is made in March.
In addition, Sharpe pays $10,000 per month for rent and $20,000 each month for other expenditures.
Tax prepayments of $22,500 are made each quarter, beginning in March.
The company’s cash balance at December 31, 2003, was $22,000; a minimum balance of $15,000
must be maintained at all times. Assume that any short-term financing needed to maintain the cash
balance is paid off in the month following the month of financing if sufficient funds are available.
Interest on short-term loans (12 percent) is paid monthly. Borrowing to meet estimated monthly
cash needs takes place at the beginning of the month. Thus, if in the month of April the firm expects
to have a need for an additional $60,500, these funds would be borrowed at the beginning of April
with interest of $605 (.12 × 1/12 × $60,500) owed for April and paid at the beginning of May.
a. Prepare a cash budget for Sharpe covering the first seven months of 2004.
b. Sharpe has $200,000 in notes payable due in July that must be repaid or renegotiated for
an extension. Will the firm have ample cash to repay the notes?
Open Question: I really need help with my World History, please answer.?
I’m failing that class horribly. So please, help me?
The ruling body of the United Nations is called the Security Council. Which of the following countries is not a member of the Security Council?
China
USSR (Russia)
United States
Japan
POINT VALUE: 5 points
——————————————————————————–
Which of the following issues would be addressed by the UN Disarmament Commission?
Outer space weapons
Reduction of military budgets
Banning Chemical Weapons
All of the above
POINT VALUE: 5 points
——————————————————————————–
Which of the following statements accurately reflects the UN’s role in human rights?
The Universal Declaration of Human Rights is legally binding
The UN has not taken a position on human rights
The US opposes the UN stand on human rights because it doesn’t go far enough
The UN supports the rights of women to participate in politics
POINT VALUE: 5 points
——————————————————————————–
The original purpose of the North Atlantic Treaty Organization was to…
Provide for joint defense of Europe and North America against the Soviet Union
Create an economic partnership between the North Atlantic nations
Establish a partnership between the US and the USSR in order to prevent nuclear war
Create an alliance of European and North American nations against Nazi Germany during World War
POINT VALUE: 5 points
——————————————————————————–
How might you infer that membership in the military alliance of Eastern European nations, known as the Warsaw Pact, was not entirely voluntary?
All members of the Warsaw pact pledged to defend each other
The Soviet Union invaded Hungary and crushed their revolution
All of the countries of Eastern Europe except Yugoslavia joined the pact
The Warsaw Pact was created as a response to the perceived threat of NATO
POINT VALUE: 5 points
——————————————————————————–
What is the official currency of the majority of European Union nations?
The pound
The dollar
The euro
Each nation has its own currency
POINT VALUE: 5 points
——————————————————————————–
The World Trade Organization operates by consensus. Which of the following best defines the meaning of consensus?
A collective opinion, more than a majority
Democratic majority rule
Unanimous agreement among all nations participating
Control by a powerful minority
POINT VALUE: 5 points
——————————————————————————–
Not everyone supports the World Trade Organization. What group of people would most likely oppose the WTO?
The United States
Business Groups
Lobbiests for large industries
Anti-globalization movement
POINT VALUE: 5 points
——————————————————————————–
What is the purpose of the World Bank?
Provide a safe, secure place where nations can deposite their money
Provide financing for the elimination of poverty and create development
An international organization for private multi-national corporations to pool their money
All of the above
POINT VALUE: 5 points
——————————————————————————–
Select one of the following trends in globalization and write a paragraph explaining what it is and how it is contributing to internationalization:
Copyright laws
International trade
Multinational corporations
Global financial system
Hollywood movies
Cultural diversity
Travel and tourism
The Internet
Immigration
Open Question: Management accounting – How do you decide how much financing you need for a cash budget?
Using this example as a reference:
http://www.cliffsnotes.com/WileyCDA/CliffsReviewTopic/Cash-Budget.topicArticleId-21248,articleId-21236.html
In this question, how did they decide to borrow $72 000? I know that there was a negative balance, which would create the need to borrow, but how did they decide on the amount $72 000 specifically?
Thank you so much in advance!
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- 1 Prepare a cash budget for Sharpe covering the first seven months of 2004
- Sharpe has $200 000 in notes payable due in July that must be repaid or renegotiated for an extension Will the firm have ample cash to repay the notes?
- 4-6A (Cash budget) The Sharpe Corporation’s projected sales for the first eight months of 2004 are as follows: January $ 90 000 February 120 000 March 135 000 April 240 000 May $300 000 June 270 000 July 225 000 August 150 000 Of Sharpe’s sales 10 percent
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