Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Basic Finance Expert

The following information is available from the controller's records for Penelope, Ltd.:

Sales Purchases
May $60,000 $20,000
June 70,000 30,000
July 80,000 25,000

All sales are on credit. Records show that 80 percent of the customers pay during the month of the sale, 15 percent pay the month after the sale, and the remaining 5 percent pay the second month after the sale. Purchases are all paid the following month at a 1 percent discount. Cash disbursements for operating expenses in July were $8,000.

Prepare a cash budget for July.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M942137

Have any Question? 


Related Questions in Basic Finance

Does the estimated maximum preload threaten your boltsyou

Does the estimated maximum preload threaten your bolts? You guess, since this is a conventional or typical joint, that the joint to bolt stiffness ratio is 5:1. You believe that the tensile loads applied to this joint in ...

Connectix inc recently issued noncallable bonds that mature

Connectix Inc. recently issued noncallable bonds that mature in 10 years. They have a par value of $1,000 and an annual coupon of 7.5%. If the current market interest rate is 7.7%, at what price should the bonds sell?

Go to wwwirsgov and click individuals to answer the

Go to www.irs.gov and click "Individuals" to answer the following questions: a. Under "1040 Central," what is the 2012 income limit that may entitle a taxpayer to the earned income tax credit? b. What is the maximum amou ...

1 compare and contrast the transport principles of economy

1. Compare and contrast the transport principles of economy of scale and economy of distance. Illustrate how they combine to create efficient transportation. 2. Describe the five modes of transportation, identifying the ...

Mirr rak corp is evaluating a project with the following

MIRR RAK Corp. is evaluating a project with the following cash flows: Year 0: -41,000, Year 1: 15,700, Year 2: 19,400, Year 3: 24,300, Year 4: 18,100 and Year 5: -9,400. The company uses an interest rate of 10 percent on ...

A scheme for the removal of h2s from a gas stream by

A scheme for the removal of H 2 S from a gas stream by scrubbing with water at 293 K and 1.013×10 5  Pa is being considered. The liquid will initially contain 3.7 mol % H 2 S. It is desired that the exiting gas stream co ...

Stock a has a beta of 15 and stock b has a beta of 10

Stock A has a beta of 1.5, and Stock B has a beta of 1.0. Determine whether each statement below is true or false. a. Stock A must have a higher standard deviation than Stock B. b. Stock A has a higher expected return th ...

Distinguish between high- and low-quality internet

Distinguish between high- and low-quality Internet sources. Imagine that a person you admire is coming to speak on campus. You have been selected to introduce the speaker to your entire graduating class. Of course you wa ...

1 list and describe the key financial differences between

1. List and describe the key financial differences between entrepreneurial growth companies and large publicly traded firms? 2. How does the financing of entrepreneurial growth companies differ from that of most firms in ...

Required for each of the following numbered items you are

Required For each of the following numbered items, you are to select the lettered item(s) that indicate(s) its effect(s) on the corporation's statements. If more than one effect is applicable to a particular item, be sur ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro