How would the values change if you included the $382,660 in the school's total budget? Fill in the values in the second row of the table below.
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Q: total sales revenue be
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A: Disbursemnt means sending out. The cash disbursement means any payment made in cash
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A: SOLUTION- STATIC BUDGET IS A BUDGET THAT DOES NOT CHANGE WITH THE VARIATIONS IN ACTIVITY LEVELS.
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A: To Determine: Cash Budget Analysis
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A: Particulars Q1 Q2 Q3 Q4 Total Sales (a) 71,250 71,250 71,250 71,250 % of Sales pertaining to the…
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A: Requirement a: Prepare a cash budget for September, October, November, and December.
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A: Total Cash receipts for December = return of Deposit + part time job =600+1200 =1800
Q: At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of…
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Q: PLEASE, DO IT IN EXCEL AND SHOW THE FORMULAS PLEASE, DO IT IN EXCEL AND SHOW THE FORMULAS PLEASE,…
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A: The question is based on the concept of Cost Accounting.
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A:
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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- Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to complete the cash budget for the year ending December 31. The Board of Trustees requires that Tri-County maintain a minimum cash balance of $8,000. If cash is short, the agency may borrow from an endowment fund the amount required to maintain the $8,000 minimum. It is anticipated that the year will begin with an $11,000 cash balance. Contract revenue is received evenly during the year. Mental health income is expected to grow by $5,000 in the second and third quarters; no change is expected in the fourth quarter. Required: 2. Complete the cash budget for each quarter and the year as a whole. 3. Determine the amount that the agency will owe the endowment fund at year-end.The following information relates to Hudson City for its fiscal year ended December 31, 2020.• During the year, retailers in the city collected $1,700,000 in sales taxes owed to the city. As of December 31, retailers have remitted $1,100,000. $200,000 is expected in January 2021, and the remaining $400,000 is expected in April 2021. • On December 31, 2019, the Foundation for the Arts pledged to donate $1, up to a maximum of $1 million, for each $3 that the museum is able to collect from other private contributors. The funds are to finance construction of the city-owned art museum. During 2020, the city collected $600,000 and received the matching money from the Foundation. In January and February 2021, it collected an additional $2,400,000 and also received the matching money. • During the year, the city imposed license fees on street vendors. All vendors were required to purchase the licenses by September 30, 2020. The licenses cover the one-year period from October 1, 2020, through…Rose City formally integrates budgetary accounts into its general fund. During the year ended December 31, 2019, Rose received a state grant to buy a bus and an additional grant for bus operation in 2019. In 2019, only 90% of the capital grant was used for the bus purchase, but 100% of the operating grant was disbursed. Rose has incurred the following long-term obligations:a. General obligation bonds issued for the water and sewer fund which will service the debt.b. Revenue bonds to be repaid from admission fees collected from users of the municipal recreation center.These bonds are expected to be paid from enterprise funds and are secured by Rose’s full faith, credit, and taxing power as further assurance that the obligations will be paid. Rose’s 2019 expenditures from the general fund include payments for structural alterations to a firehouse and furniture for the mayor’s office.In Rose’s general fund balance sheet presentation at December 31, 2019, which of the following…
- Bemidji, Minnesota, needs $3,055,000 for its 2019 budget. Total assessed value of property in Bemidji is $254,583,333. What is the tax rate expressed as a percent, per $100, per $1,000, and in mills?The government makes appropriations of RO 150,000 to Muscat School for the month of January 2019. During the month the following transactions occurred:Salary paid RO 35,000Purchase orders were placed for office supplies RO 49,000Office supplies were received with a voucher for RO 45,000An amount of RO 15,000 was transferred to Debt service fund.The unreserved fund balance at the end of the period is:The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Debits Credits Accounts payable $ 103,000 Accounts receivable $ 25,800 Accrued interest payable 28,900 Accumulated depreciation 46,500 Administrative and selling expenses 48,500 Allowance for uncollectible accounts 12,400 Capital assets 707,000 Cash 90,200 Charges for sales and services 553,000 Cost of sales and services 495,000 Depreciation expense 46,500 Due from General Fund 17,100 Interest expense 40,200 Interest revenue 4,300 Transfer in from General Fund 115,200 Bank note payable 625,300 Supplies inventory 18,300 Totals $ 1,488,600 $ 1,488,600…
- The Helpful Hands Society, formed in January 2020, undertook a fundraising campaign in the summer of 2020. The NFPO was able to raise $450,000 in pledges. The Society expects to collect at least 80 percent of these pledges. As of December 31, 2020, the society collected $125,000 in pledges from the summer campaign. Which of the following amounts is the value of net pledge receivable at December 31, 2020? $0 $125,000 $360,000 $235,000The government makes appropriations of RO 200,000 to Sohar School for the month of January 2019. During the month the following transactions occurred: Salary paid RO 50,000 Purchase orders were placed for office supplies RO 72,000 Office supplies were received with a voucher for RO 60,000 An amount of RO 25,000 was transferred to Debt service fund. The unreserved fund balance at the end of the period is: a. 90,000 b. 150,000 c. 78,000 d. 65,000The City of Mayville had total fund balance in its General Fund of $200,000 on December 31, 2019. The City of Maysville’s General Fund balance sheet for its December 31, 2019 year end shows inventory of $8,000 and prepaid rent of $10,000. The City also had $60,000 of outstanding encumbrances in its General Fund at year-end. In December 2019, a grantor provided the City with $42,000 that must be used to buy musical instruments for the City’s youth orchestra. No instruments had been purchased at year-end. How much should the City report as unassigned fund balance in its General Fund on December 31, 2019? $38,000 $60,000 $80,000 $102,000 $120,000
- The finance director of the Bethandy Independent School District is making preliminary estimates of the budget outlook for the General Fund for the 20x8 fiscal year. These estimates will permit the superintendent to advise the department heads properly when budget instructions and forms are distributed. She has assembled the following information: Estimated 20X7 Expected Change- 20X8 1. Revenues Property Taxes............................................................................ $2,000,000 +6% State aid....................................................................................... 1,000,000 +3% Federal grants.............................................................................. 500,000 -$40,000 Other............................................................................................ 300,000 +$10,000 $3,800,000 2. Expenditures Salaries and…The following transactions relate to Newport City’s special revenue fund. In 2020, Newport City created a special revenue fund to help fund the 911 emergency call center. The center is to be funded through a legally restricted tax on cellular phones. No budget is recorded. During the first year of operations, revenues from the newly imposed tax totaled $495,000. Of this amount, $445,500 has been received in cash and the remainder will be received within 60 days of the end of the fiscal year. Expenditures (salaries) incurred through the operation of the 911 emergency call center totaled $441,000. Of this amount, $412,335 was paid before year-end. During the year the state government awarded Newport City a grant to reimburse the City’s costs (not to exceed $159,000) for the purpose of training new 911 operators. During the year, the City paid $151,050 (not reflected in the expenditures above) to train new operators for the 911 emergency call center and billed the state government.…The officers and Board of Directors of the Philippine Institute of Civil Engineers desire to award a P3,000 scholarships annually to deserving Civil Engineering students for as long as its scholarship fund last. The fund was started September 1, 2007 by a donor in the amount of P18,000. The PICE invested this amount at that time at 8% per annum, and plans on adding P600 each year to the fund from its dues starting September 2008 for as long as awards are made. How to solve for how many years starting September1, 2008 can scholarship be awarded?