Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. lindor enterprises projects sales for the first th

Lindor Enterprises projects sales for the first three months of the year to be: $10,900...

50.1K

Verified Solution

Question

Accounting

image
image
Lindor Enterprises projects sales for the first three months of the year to be: $10,900 in January, $12,000 in February, and $13,000 in March. Cash receipts are expected to be: $8,400 in January, $11,680 in February, and $12,920 in March. They anticipate the following cash payments: All costs are paid in the month incurred except direct materials, which are paid in the month following the purchase, utilities, which are paid in the month after incurred, and property taxes. which are prepaid for the year on January 2. The Accounts Payable and Utilities Payable accounts have a zero balance on January 1. Also, Lindor Enterprises beginning cash balance is $3,000 and they desire to maintain a minimum ending cash balance of $3,000. Lindor Enterprises borrows cash as needed at the beginning of each month in increments of $900 and repays the amounts borrowed in increments of $900 at the beginning of months when excess cash is available. The interest rate on borrowed amounts is 6% per year. Interest is paid at the beginning of the month on the outstanding balance from the previous month. Complete a Cash Budget for Lindor Enterprises. Lindor Enterprises Cash Budget For the Quarter Ending March 31

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Please answer these two questions. Thank you. 1. What is the importance of cultural commonalities(such as writing,...

Psychology
Q

What factors would cause you to initiate follow-up contacts with one or more group members after...

Psychology
Q

The continuous random variables ? and ? have the joint p.d.f. ??,? given by ?(?, ?) =...

Basic Math
Q

What is an example of a noble cause the plant manager of a division that manufactures...

General Management
Q

Find the Dual of the following LP max z = 4x1 ? x2 + 2x3 x1 +...

Advance Math
Q

Male Chad 2016 AGE GROUP Population A developed B developing C post industrial D pre...

Biology
Q

Problem 7 Assume that you guess that n 2 i 0 a2n b for constants...

Algebra
Q

The Commutative Property of Addition states that for any real numbers a and b a...

Algebra
Q

at the beginning of September was as follows: computations to the nearest cent,...

Accounting
Q

Protec Company acquired 75% of Sussex Company's voting stock for $30,000 in cash. The noncontrolling...

Accounting
Q

Mike Barr was an outstanding football player in college and expects to be drafted by...

Accounting
Q

The tables below are a section extracted from a partially filled MTM analysis form for...

Accounting