ABC expects to have a cash balance of $12,000 on 1 November 2022. Relevant monthly budget data for the last 2 months of 2022 are as follows: - Collections from customers: November $87,000; December $169,000. - Payments to suppliers: November $50,000; December $88,000. - Direct labour: November $40,000; December RM45,000. Wages are paid in the month they are incurred. - Manufacturing overhead: November $21,000; December $30,000. These costs include depreciation of $1,000 per month. All other overhead costs are paid as incurred. - Selling and administrative expenses: November $15,000; December $20,000. These costs are exclusive of depreciation. They are paid as incurred. - Sales of investments in November are expected to realise $35,000 in cash. ABC has a line of credit at a local bank that enables it to borrow up to $25,000. The entity wants to maintain a minimum monthly cash balance of $10,000. Question a) Prepare a cash budget for ABC for the months of November and December 2022 b) Discuss various ways of receivables management
Answers
a) The cash budget for ABC for the months of November and December 2022 shows the expected cash inflows and outflows for each month
b) Various ways of receivables management include implementing credit policies, setting credit limits, conducting credit checks, offering discounts for early payments etc.
a) The cash budget for ABC for November and December 2022 can be prepared by considering the cash inflows and outflows during the respective months. The collections from customers in November and December are $87,000 and $169,000, respectively. The payments to suppliers are $50,000 in November and $88,000 in December. The direct labor costs are $40,000 in November and $45,000 in December, while manufacturing overhead costs (including depreciation) are $21,000 in November and $30,000 in December. Selling and administrative expenses are $15,000 in November and $20,000 in December. Additionally, there are cash inflows of $35,000 from the sales of investments in November. By considering these inflows and outflows, along with the opening cash balance of $12,000, ABC can project its cash position for each month and ensure it maintains a minimum cash balance of $10,000.
b) Receivables management involves strategies and practices aimed at efficiently managing a company's accounts receivable. Some key approaches include implementing appropriate credit policies, which determine the terms and conditions for extending credit to customers. This includes setting credit limits based on creditworthiness assessments and conducting regular credit checks to minimize the risk of non-payment. Offering discounts or incentives for early payments can encourage prompt settlement of invoices.
.Additionally, effective receivables management involves having clear and consistent communication with customers regarding payment terms and following up on overdue payments. Companies can use collection agencies or employ in-house collections teams to assist with the collection process. By actively managing receivables, businesses can optimize cash flow, reduce the collection period, minimize bad debts, and maintain a healthy working capital position
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Related Questions
Stockit Inc. has 1,000 shares of 5%, $100 par value, cumulative preferred stock outstanding. In its first two years of business, Stockit did not declare a dividend. As a result, Stockit's balance sheets at the end of its first two years of business should:
Answers
Answer:
The balance sheet should include no dividends payable
Explanation:
Looking at the scenario described , as Stockit did not declare a dividend in the two years of operation , this mean that dividends payable will not appear of the balance sheet.
Dividends payable is the amount of after tax profit that a company has authorized for distribution to shareholders as dividends . but not yet paid out in cash.This is recorded as liability on the company's balanced sheet after declaration and before payment. But on payment , it no longer appear on the balanced sheet.
In a situation where dividends are not declared by the company for whatever reason , it does not appear on the balance sheet
It's Friday moming, work has gradually built up over the course of the week and you have an important meeting at 09:30 am. You have a number of tasks on your desk to complete and you have 30 minutes in which to prioritize and complete each of the tasks List the number in the order that you will assume the following Telephone messages Corespondence Papers such as reports, statements, briefing documents, and plans A set of emals Planner or Calendar Interview Scenario Questions involving Prioritization (Formulate an answer to the folowing. Remember, Situation, Task, Action, Result) 3. If you're reporting to more than one manager, how do you prioritize your duties? 4. Have you ever missed a deadine? If so, what happened? If not, how do you make sure you're not talling behind?
Answers
Given that you have a number of tasks on your desk to complete with 30 minutes in which to prioritize and complete each of the tasks, here is the order to assume the following:
Planner or Calendar Telephone messages Correspondence Papers such as reports, statements, briefing documents, and plans
A set of emails
Answer to Scenario Question (Situation, Task, Action, Result):
Situation:
Reporting to more than one manager.
Task:
Prioritizing your duties.
Action:
To prioritize your duties, start by having a conversation with both managers to gain clarity on each of their priorities and expectations. Next, analyze the impact of each task on the business. Finally, create a schedule that accommodates each manager's priorities and stick to the schedule.
Result:
With clear communication and an understanding of the business impact, prioritizing your duties can become an easier task without compromising on the needs of both managers.
Answer to Scenario Question (Situation, Task, Action, Result):
Situation: Missing a deadline.
Task:
To avoid missing deadlines, create a to-do list and a schedule for completing each task. Additionally, break each task into smaller, manageable parts to avoid getting overwhelmed.
Action:
Create a to-do list and a schedule for completing each task. Break each task into smaller, manageable parts to avoid getting overwhelmed. Work on the most important tasks first, and delegate if necessary. Communicate any challenges or roadblocks to your manager and renegotiate deadlines if necessary.
Result:
By planning ahead, breaking tasks into smaller parts, prioritizing tasks, and communicating any challenges or roadblocks to your manager, it is possible to avoid missing deadlines.
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a method for managing pollution in which a limit is placed on emissions and businesses or countries can by and sell emissions allowances
Answers
A method for managing pollution in which a limit is placed on emissions and businesses or countries can by and sell emissions allowances is Cap and trade .
What does the term "cap and trade" mean?
A "cap" on maximum emissions is imposed under the cap-and-trade system, which reduces the total emissions from a number of emitters.
It is said to as a market-based approach that aims to lower total pollutant emissions and promote corporate investment in fossil fuel substitutes and energy efficiency.
What does "cap and trade system" mean?
A government regulation scheme known as "cap and trade" aims to reduce or "cap" the overall level of certain chemical pollutants, primarily carbon dioxide emissions, that arise from industrial activity.
The argument put up by cap and trade proponents is that it is a preferable option to a carbon tax.
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the 2007–2009 recession was brought on when the federal reserve used excessive tightening of the money supply to solve the period of stagflation from 2004 to 2007. true/false
Answers
The 2007–2009 recession was brought on when the federal reserve used excessive tightening of the money supply to solve the period of stagflation from 2004 to 2007 is false.
Why is the statement not true?The 2007-2009 recession, also known as the Great Recession, was primarily caused by the collapse of the housing market, which led to a financial crisis.
This was due to a combination of factors, including subprime mortgage lending, excessive risk-taking by financial institutions, and the securitization of mortgages.
The Federal Reserve's monetary policy during this period was not primarily focused on combating stagflation, and excessive tightening of the money supply was not the main cause of the recession.
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Pleaseee help
P
L
E
A
S
E
Answers
Answer:
What should I help dude
If a customer is sensitive to price, what relationship will exist between Price, Demand and Revenue?
a.
Price (increases), demand (decreases) revenue (decreases)
b.
Price (decreases), demand (increases) revenue (decreases)
c.
Price (decreases), demand (decreases) revenue (decreases)
d.
Price (increases), demand (increases) revenue (increases)
Answers
Option a correctly represents the relationship between price, demand, and revenue in the context of price-sensitive customers.
option a - price (increases), demand (decreases), revenue (decreases).
when a customer is sensitive to price, increasing the price will result in a decrease in demand. as a result, the revenue will also decrease. this is because price-sensitive customers are more likely to react to price increases by seeking alternative products or reducing their consumption. lowering the price, on the other hand, can attract more price-sensitive customers and increase demand. however, even though the demand may increase, the decrease in price will lead to a reduction in revenue.
If a customer is sensitive to price, what relationship will exist between Price, Demand and Revenue.
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Under what circumstances would it be unwise for the managers of double decker lanes, a local bowling alley, to drastically modify their company's strategy?
A. Changing market conditions
B. Advancing technology
C. Shifting customer needs
D. Mounting evidence that the current strategy is not working well
Answers
It be unwise for the managers of double decker lanes, a local bowling alley, to drastically modify their company's strategy under option E. desiring to mimic the strategy of Epicenter, a recent local entrant in bowling and gaming.
A protracted program you develop for your business to get to the desirable, long - term direction you picture is known as a strategy. A strategy encompasses your company's aims and objectives, the kinds of goods and services you intend to develop, the target market for your sales, and the consumers you wish to attract.
Many bowling alleys make more money if they are located in areas where families can afford a combined yearly household income of above $100,000. In contrast, it is anticipated that the children's entertainment centre industry would experience tremendous expansion in the future years.
The question is incomplete, find the complete question here
Under what circumstances would it be unwise for the managers of double decker lanes, a local bowling alley, to drastically modify their company's strategy?
A. Changing market conditions
B. Advancing technology
C. Shifting customer needs
D. Mounting evidence that the current strategy is not working well
E. desiring to mimic the strategy of Epicenter, a recent local entrant in bowling and gaming.
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A person’s credit score can range from a low of 300 to a high of what number?
Answers
Answer:
yea i did this yesterday :) 850 ^^^^^^^
Explanation:
A person's credit score can range from a low of 300 to a high of 850 numbers.
A credit score is a number from 300 to 850 that rates a consumer’s creditworthiness. The higher the score, the better a borrower looks to potential lenders.
A credit score is based on credit history: number of open accounts, total levels of debt, repayment history, and other factors. Lenders use credit scores to evaluate the probability that an individual will repay loans in a timely manner. There are several different credit bureaus in the United States, but only three that are of major national significance: Equifax, Experian, and TransUnion. This trio dominates the market for collecting, analyzing, and disbursing information about consumers in the credit markets.
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It is only necessary to underline vocabulary words identified in a test question. Please select the best answer from the choices provided T F?
Answers
Answer:
The answer you are looking for is false
Explanation:
Got it right edge 2021
Answer:
False
Explanation:
Edge 2021
Read the following descriptions. Decide who demonstrates good habits and attitudes.
Michael likes his job. He decides to take a few finance classes so that he becomes better at his job. This will also help in case he wants to transfer to a new position in the same company.
Bryan thinks he has the best job. He thinks he is already doing the best he can and doesn't do anything to improve his skills.
Answers
Answer:
Michael demonstrates good habits and attitude
Explanation:
Michael likes his job and takes the initiative to do better so he can get a new position,however Bryan is very cocky and doesn't try to get better.
A research report should NOT be which of the following?
Answers
A research report should not be B. Imaginative.
What are the characteristics of a research report ?A research report is a written document that presents the findings of a research study. It is typically used to communicate the results of scientific, technical, or social science research to a wider audience.
A research report should be objective, meaning that it should present the findings and data of the study without bias or personal opinions. A research report should be written in a clear and concise manner, using language that is easy to understand.
A research report typically follows a structured format, including an introduction, literature review, methods, results, discussion, and conclusion. A research report should use evidence to support its findings, such as data from experiments or observations, and should include citations for any sources used.
A research report should include enough detail about the methods and data used in the study to allow other researchers to replicate the study if necessary.
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Options for this question include:
A. Short and concise B. Imaginative C. Clear and easy to read D. Accurate and up-to-dateSuppose Americans began purchasing real assets in Europe. How would this impact the foreign exchange market for the euro and the dollar price of the euro?
Demand for euro / Dollar price of euro
Decrease / Increase
Increase / Decrease
Increase / Increase
Decrease / Decrease
Decrease / Not Change
Answers
The correct answer is "Increase / Increase." If Americans began purchasing real assets in Europe, there would be an increase in demand for the euro, likely result in the increase in the very dollar price of the euro.
When Americans purchase real assets in Europe, they need to exchange their dollars for euros to make the purchase. This increase in demand for euros will cause the exchange rate to rise as there will be more buyers than sellers of euros, increasing the price of the euro in dollars.
This scenario assumes that all other factors affecting the exchange rate remain constant, which is not always the case in the real world. There are many factors that can affect the exchange rate, including interest rates, inflation rates, political events, and economic performance, among others.
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decision tree is used when modeling: select one: a. any type of game. b. simultaneous decisions. c. a prisoner's dilemma. d. games in which timing matters.
Answers
A decision tree is used when modeling is d. games in which timing matters.
A decision tree is a very specific type of possibility tree that allows you to choose about a few sorts of processes. for example, you may want to pick between manufacturing object A or object B, or making an investment in desire 1, choice 2, or choice three.
A choice tree is a flowchart-like structure in which every inner node represents a "test" on an attribute (e.g. whether or not a coin flip comes up heads or tails), every department represents the final results of the check, and each leaf node represents a category label (selection taken after computing all attributes).
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Type in a sentence using the word Financial planning wrong
Answers
William wrote a check for $150.00 for his gas bill, but he only has 96.26 in his checking account. What will happen to the check when it is presented for payment
Answers
Answer:
The person will ask William to check his checking account and then William would have to lower the check amount he had previously wrote.
Explanation:
If you write a check or make a purchase for more than you have in your checking account, your bank may cover the difference. This line of credit offered by the bank is called overdraft protection. ... Furthermore, if your account remains overdrawn, your bank may also charge you daily interest on the loan.
in regard to resource leveling, why are noncritical path activities generally the first to be delayed?
Answers
Noncritical path activities are generally the first to be delayed in resource leveling because they have more flexibility in terms of their start and finish times compared to critical path activities.
Resource leveling is a technique used in project management to address resource constraints and optimize resource utilization. The critical path represents the sequence of activities that determine the project's overall duration. These activities have zero or very little flexibility in terms of their start and finish times, and any delay in critical path activities will directly impact the project's completion time. On the other hand, noncritical path activities have some slack or float, meaning they can be delayed without affecting the project's overall duration. By delaying noncritical path activities, project managers can better allocate scarce resources to critical path activities and ensure that critical tasks are completed on time. Delaying noncritical path activities allows for better resource utilization and avoids overloading resources when they are already stretched thin. It helps to balance resource allocation and ensure that critical activities receive the necessary attention and resources to meet project deadlines.
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economics-- multiple choice!
Let's say the federal government decides to establish and run national parks in four states, and one U.S. territory with, struggling economies. What is the most likely reason for the government embarking on this large-scale project?
Control inflation
Expand Medicaid
Combat unemployment
Limit spillover cost
p.s. i have more questions like this on my profile-- please help me with other questions if you can :)
Answers
Answer:
combat unemployment?
Explanation:
That seems the likeliest answer compared to the others since national parks provide jobs.
angela, inc., holds a 90 percent interest in corby company. during 2020, corby sold inventory costing $123,500 to angela for $190,000. of this inventory, $45,800 worth was not sold to outsiders until 2021. during 2021, corby sold inventory costing $102,300 to angela for $186,000. a total of $57,000 of this inventory was not sold to outsiders until 2022. in 2021, angela reported separate net income of $182,000 while corby's net income was $103,500 after excess amortizations. what is the noncontrolling interest in the 2021 income of the subsidiary?
Answers
The first step in calculating the noncontrolling interest in the 2021 income of the subsidiary is to determine the total income of the subsidiary for the year. Since Angela holds a 90% interest in Corby, it means that the noncontrolling interest is 10%.
The total sales from Corby to Angela in 2021 were $186,000, and since $57,000 worth of inventory was not sold to outsiders until 2022, it means that $129,000 worth of inventory was sold to outsiders in 2021. Therefore, the cost of goods sold for 2021 is $102,300.
To calculate the net income of the subsidiary for 2021, we subtract the cost of goods sold from the total sales and then subtract any excess amortizations. This gives us $186,000 - $102,300 - $5,200 = $78,500.
Since Angela holds a 90% interest in Corby, it means that the noncontrolling interest is 10%, which is equal to $7,850 (10% of $78,500). Therefore, the noncontrolling interest in the 2021 income of the subsidiary is $7,850.
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what job industry discussed in friday’s episode is seeing an increase in women with an all-time high of hires this summer?
Answers
workplace. The first of three articles about how the epidemic has affected women's careers may be found below. . In every sector of the American economy,
working women have been devastated by the epidemic. However, COVID-19 did not completely reverse the long-term progress made by women. In spite of the significant barriers in their path, women are making a gradual, steady ascent up Corporate America's professional ladder when you peel back a few layers. According to a new analysis of LinkedIn data, the proportion of women hired into leadership roles in the U.S. increased by about 10% in relative terms between 2015 and 2021. Despite a slight decline in 2020,
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Which would you rather have.
1: 1mil dollars
2: 2 mansions
3: 3 cars of your choice.
Answers
Answer:
1 million dollars
Explanation:
I could invest it and turn it into even more money.
Answer:
1 million dollars.
Explanation:
1. would help cover ski expences
2. Would also help pay for lessons and season passes.
3. Would also help me get my 3 most wanted pets: hedgehog, puli (dog breed with dreadlocks for hair), or a chameleon.
Have an amazing day!
What would you choose?
PLEASE RATE!!
When gas prices are $2.73 per gallon, the annual supply for gas in New York State is 135 billion gallons and the annual
demand is 141 billion gallons. When the price increases to $3.26 per gallon, the annual supply increases to 147 billion gallons and the
demand decreases to 137 billion gallons.
(a) Assuming that the supply and demand equations are linear, Ofind the supply and demand equations.
Supply Equation p =
Demand Equation p =
Note: The equations should be in the form p = mq + b where p denotes the price (in dollars) and q denotes the quantity (in billions).
The slope and y-intercept should include 3 decimal places, or be left as fractions.
(b) Find the market price and quantity.
market price p =
market quantity q =
Note: The market price and quantity should include 3 decimal places (or left as fractions), and the market price should include a dollar
sign.
Answers
The supply equation is p = 0.044q - 3.21.
How to compute the supply equation?The supply will be:
p = mq + b
2.73 = 135m + b
3.26 = 147m + b
Subtract both equations
12m = 0.53
m = 0.53/12
m = 0.044
We'll substitute it and this will be:
2.73 = 135m + b
2.73 = 135(0.044) + b
2.73 = 5.94 + b
b = -5.94 + 2.73 = -3.21
The supply equation will be
p = mq + b
p = 0.044q - 3.21
The demand equation will be:
2.73 = 141m + b
3.26 = 137m + b
Subtract the equations
4m = -0.53
m = -0.1325
2.73 = 141m + b
2.73 = 141(-0.1325) + b
b = 2.73 + 18.68
b = 21.41
The demand equation will be
p = -0.1325q + 21.41.
The equilibrium condition will be:
0.044q - 3.21 = -0.1325q + 21.41.
0.044q + 0.1325q = 21.41 + 3.21
0.1765q = 24.62
q = 140
Equilibrium quantity = 140
The market price will be:
p = 0.044q - 3.21
p = 0.044(140) - 3.21
p = 2.95
The market price is 2.95.
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Explain to the management of SSSMM the impact of the following socio-
economic issues on their business.
a.Inflation
b.Dumping
Answers
Answer:
inflation
Explanation:
this a process by which prices of a particular goods are high
enrique wants to encourage his team members to accomplish the goal of learning a new skill each quarter. what should enrique do? understand the purpose of goals. check that the goal is consistent horizontally and vertically. reward those who accomplish the goal. update the goal regularly.
Answers
Enrique can encourage his team members to accomplish the goal of learning a new skill each quarter by taking the following steps:
Understand the purpose of goalsCheck that the goal is consistent horizontally and verticallyHow would Enrique encourage his team membersUnderstand the purpose of goals: Enrique should ensure that he understands the purpose of setting goals and how they can help his team members to grow and develop their skills.
Check that the goal is consistent horizontally and vertically: Enrique should ensure that the goal of learning a new skill each quarter is consistent with the overall goals of the organization and that it aligns with the individual goals of each team member.
Reward those who accomplish the goal: Enrique should provide incentives and rewards for team members who successfully accomplish the goal of learning a new skill each quarter.
Update the goal regularly: Enrique should regularly review and update the goal to ensure that it remains relevant and effective. He should also encourage feedback from team members on how the goal is working and what changes need to be made.
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The ratio of average volume in declining issues to average volume in advancing issues is called the ______________.
a. market breadth
b. market volume
c. trin statistic
d. relative strength ratio
Answers
The ratio of average volume in declining issues to average volume in advancing issues is called the c. trin statistic
TRIN is a short-term trading instrument that measures stock market volatility. TRIN describes the evolution and decline of emissions by measuring flow. A rising TRIN indicates a weak market and a falling TRIN indicates a strong market. You can add a moving average to smooth your data.
TRIN readings below 0.50 are considered indicative of an overbought condition where analysts expect a downward correction retracement to be imminent. TRIN readings above 3.00 are usually interpreted as indicating an oversold condition that could lead to an up rally.
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Which of the following is NOT one of the six parameters which form the foundation of the earned value concept?A. BCWSB. ACWSC. BCWPD. ACWP
Answers
On January 1, Year 1, Willette Company sold $240,000 of 6% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were sold for $180,181, priced to yield 10%. Using the straight-line method, what is the amount of interest expense that Willette will report for the six months ended June 30, Year 1?
Answers
Answer:
$10,191
Explanation:
Calculation for the amount of interest expense that Willette will report for the six months ended June 30, Year 1
First step is to calculate the Semiannual interest payment using this formula
Semiannual interest payment = Face amount × (Rate ÷ 2)
Let plug in the formula
Semiannual interest payment = $240,000 × (6% ÷ 2)
Semiannual interest payment= $7,200
Second step is to calculate the Allocation of discount using this formula
Allocation of discount = (Face value of bonds − Issue price) ÷ Number of interest payments
Let plug in the formula
Allocation of discount = ($240,000 - $180,181) ÷ (10 years × 2 payments per year)
Allocation of discount = $59,819 ÷ 20
Allocation of discount = $2,991
Now let calculate the Interest expense using this formula
Interest expense = Interest payment + Allocation of discount
Let plug in the formula
Interest expense = $7,200 + $2,991
Interest expense = $10,191
Therefore the amount of interest expense that Willette will report for the six months ended June 30, Year 1 will be $10,191
The art of sales is never more obvious than in a late-night infomercial. Tell about one infomercial that you have seen and what tactics the salesperson used to get the audience to buy their product. See if you can find a link to it online and post the link with your comment as well. Did watching the salesperson make you want to buy? Do you think you would be able to do the same marketing job as the salesperson?
(HELP FAST DUE IN 15 MINUTES)
Answers
The informercial that have been used in the solution would be the :As seen on TV " informercial
What is the message in the informercial?One of the most popular infomercial products is the "As Seen on TV" range of products. These infomercials use a variety of tactics to sell their products, including:
Highlighting the problem: The infomercial starts by showing the problem that the product solves, such as a cluttered kitchen or aching back.
Demonstrating the product: The product is then demonstrated, showing how easy it is to use and how it solves the problem.
Emphasizing the benefits: The salesperson then emphasizes the benefits of the product, such as saving time and money, and improving your life.
Using testimonials: Real people are shown using the product and providing testimonials, which adds credibility to the product and the infomercial.
Creating a sense of urgency: The infomercial often includes a limited-time offer or a special discount, which creates a sense of urgency for the viewer to buy now.
These are just a few of the tactics used in infomercials, and their effectiveness varies depending on the product and the target audience. Ultimately, the success of an infomercial comes down to how well the product solves a real problem and how effectively the salesperson communicates that to the viewer.
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compute+the+median+return+(in+%)+for+the+top-ranked+50+companies.
Answers
the median return for the top-ranked 50 companies.
Could you please provide the specific data or returns for these companies?
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explain the factors affecting fixed capital and working capital
Answers
Answer:
The affecting factors of the given context are defined below in the explanation section.
Explanation:
Factors affecting fixed capital:
Capital expenditure of alternative investments is longer and therefore is considered fixed capital. That capital would be largely funded thru all the lengthy period financing sources, including certain equity, retained earnings, bonds, loan repayments, and so much more.Factors affecting working capital:
Costs of production, staffing costs, and operating costs also impact working capital. These fees are based on either the manufacturing techniques and equipment throughout the warehouse, this same competence of the employees, respectively.Dotty's is a high fashion boutique, owned by entrepreneur Daisy Smith. The
business has been open a year, and specialises in designer outfits for women.
Daisy made the decision to set up the business after working in a high street
chain for five years.
Which of the following does NOT analyse how entrepreneurial skills will enable
Daisy's business to be more financially successful?
Answers
Answer: By being organized, Daisy will be abke to ensure that her business runs more smoothly and that she has stock in the shop when is is needed and the suppliers are paid on time. This could lower the levels of stress experienced by Daisy and lead to her enjoying a better work life balance.
Explanation:
The option that doesn't analyse how entrepreneurial skills will enable
Daisy's business to be more financially successful is that "By being organized, Daisy will be abke to ensure that her business runs more smoothly and that she has stock in the shop when is is needed and the suppliers are paid on time. This could lower the levels of stress experienced by Daisy and lead to her enjoying a better work life balance".
We should note that while other options shows that there will be an increase in customer, increase in sales and lead her to be more financially successful, this particular option only relates to her work-life balance and not have an impact on her financial stability.