Brewster Corporation expects the following cash receipts and disbursements during the first quarter of 2019 (receipts exclude new borrowings and disbursements exclude interest payments on borrowings since January 1, 2019) : Cash receipts January February March
$260,000 $280,000 $250,000
Cash disbursements
240,000 320,000 260,000
The expected cash balance at January 1, 2019, is $42,000. Brewster wants to maintain a cash balance at the end of each month of at least $40,000. Short-term borrowings at 1% interest per month will be used to accomplish this, if necessary. Borrowings (in multiples of $1,000) will be made at the beginning of the month in which they are needed, with interest for that month paid at the end of the month. Prepare a cash budget for the quarter ended March 31, 2019.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Brewster Corporation expects the following cash receipts and disbursements during the first quarter of 2019 (receipts exclude new ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Perfect Clean, Inc. provides housekeeping services. The following financial data have been provided. Service Revenue $ 70 comma 000 Cleaning Supplies Used 22 comma 000 Wages Expense 18 comma 350 Office Rent Expense 5 comma 150 Depreciation
Answers (1)
1. You enter a casino to play a game. The game has 3 possible outcomes, for every two dollars you bet, there is a 25% chance you win $2, a 30% chance you win $1 and the rest of the time you lose your bet. What is the expected value of your winnings?
Answers (1)
Deflation Group of answer choices increases incomes and enhances the ability of debtors to pay off their debts. increases incomes and reduces the ability of debtors to pay off their debts.
Answers (1)
Alicia believes that an employee's perception of a situation determines his or her relationship with other members. She also believes that employees can also influence the norms followed in their company.
Answers (2)
The simplest way for a monopoly to arise is for a single firm to A. decrease its price below its competitors' prices. B. own a key resource. C. make pricing decisions jointly with other firms. D.
Answers (1)
New Questions in Business
For each of the following shocks, say whether it is a demand-side shock or a supply-side shock. a. Consumer confidence falls: (Click to select) b. Government spending increases: (Click to select) c.
Answers (1)
You have just deposited $11,000 into an account that promises to pay you an annual interest rate of 6.5 percent each year for the next 6 years.
Answers (1)
During May, Bergan Company accumulated 2,500 hours of direct labor costs on Job 200 and 3,000 hours on Job 305. The total direct labor was incurred at a rate of $28 per direct labor hour for Job 200 and $24 per direct labor hour for Job 305.
Answers (1)
A share of stock currently sells for $60, pays an annual dividend of $4.00, and earned a rate of return of 20% over the past year. What did this stock sell for one year ago?
Answers (1)
Rachel wants to buy a house, fix it up, and rent it out. she cannot afford to do it on her own, so she and some friends from her book club agree to pool their money for the project. their arrangement could be known as a joint venture or as a
Answers (1)