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

Assignment genesis energy cash position analysisthe genesis

Assignment: Genesis Energy Cash Position Analysis The Genesis Energy operations management team is now preparing to implement the operating expansion plan. Previously, the firm's cash position did not pose a challenge. H ...

Conseco inc has a debt ratio of 055 what are the companys

Conseco, Inc., has a debt ratio of 0.55. What are the company's debt-to-equity ratio and equity multiplier?(Round your answers to 2 decimal places, e.g.12.25.)

Impact of the european economy in 2012 some economists

Impact of the European Economy In 2012, some economists suggested that U.S. interest rates are dictated by the weak economic conditions in Europe. Use the loanable funds framework to explain how European economic conditi ...

Finance discussionstep 1 evaluate screen stocksthe

Finance Discussion Step 1 Evaluate / Screen Stocks The objective of this discussion is to create a list of 5 stocks and 5 ETFs. There are numerous websites that have good stock screening tools such as Morningstar and Yah ...

A number of latin american countries export coffee and

A number of Latin American countries export coffee and import other goods. A longterm drought now reduces coffee production in the countries of this region. Assume that they remain exporters of coffee. Explain why the lo ...

1 youve decided to capitalize 100 of your new business by

1. You've decided to capitalize 100% of your new business by obtaining a loan from a local bank. Your initial funding will A. include personal and equity financing. B. include equity and start-up financing. C. consist of ...

Powerpoint presentationassume that you are a social worker

PowerPoint Presentation Assume that you are a social worker for the Department of Children and Families in your state, and you have been asked to present information about a public assistance program of your choice to a ...

How do bonds provide financing to corporations for their

How do bonds provide financing to corporations for their capital projects? What are the key differences between using bonds to finance capital projects and using stock for that purpose? The value of a bond is dependent p ...

In a positively skewed distribution the percentage of

In a positively skewed distribution, the percentage of observations that fall below the median is: A. about 50 percent. B. less than 50 percent. C. more than 50 percent. D. can't tell without knowing n.

The number of claims n in a year has a discrete

The number of claims N in a year has a discrete distribution: Pr[N=k]=0.1(4-k) for k=0,1,2,3. The amount for each claim has mean 300 and variance 30000. The distribution of amount per claim is independent of N. Calculate ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate