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New Tab x Connect Secure I https://newconnect.mheducation.com/flow/connect html yEPCC-Services ? N Watch TV and mov O https://www myherl Inbox (ST17) Netflix M alicin ® My Schedule and C ? Pookmarks ip Bookmarks U Exam 3 Ch 18, 20 &21 Saved Southland Company is preparing a cash budget for August. The company has $17.200 cash at the beginning of August and anticipates $121.200 in cash receipts and $134700 in cash disbursements during August Southland Company wants to maintain a minimum cash balance of $10.000. The preliminary cash balance at the end of August before any loan activity is: 24 00:55:03 Multiple Choice $13700 $138,400 $13.500) $3,700 $27200

Explanation / Answer

24) $3,700

preliMinary cash balance before loan activity =

Opening cash + Receipts - disbursement = $17,200 + $121,200 - $134,700

= $3,700

25) $196,000

Accounts Receivable at the end of August = $280,000 * 70% = $196,000

26) $196,700

Budgeted net income = ( Sales - cost of goods sold -selling expenses - general and administrative expense ) *(1 - tax rate)

=( $765,000 - $765,000*.40 -$84,500 - 93,500)*(1-0.40)

= $196,700

27) Price and quantity variances

28) flexible budget

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