Pilger Corporation has cash on hand at year-end of $201,000 and a negative cash flow from operations of $144,000. What is the ratio of cash to monthly cash expenses? Oa, 7.2 months Ob. 12.0 months C. 1.4 months Od. 16.8 months

Pilger Corporation has cash on hand at year-end of $201,000 and a negative cash flow from operations of $144,000. What is the ratio of cash to monthly cash expenses? Oa, 7.2 months Ob. 12.0 months C. 1.4 months Od. 16.8 months

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 13MCQ

See similar textbooks

Related questions

Q: Which is false about cooperative BODs?

A: Board of directors of cooperative:Body entrusted with the management of the affairs of the…

Q: You have the following information about Al- Farah Company: 2020: Net Sales 11,396.9, Gross profit…

A: Horizontal analysis is one of the financial statement analysis under which each item is being…

Q: Why is the dual-rate charging method better than the single-rate method? In what circumstances would…

A: The dual rate cost allocation approach in cost accounting divides costs into two types of cost…

Q: FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high…

A: Sales budget is one of the form of budget being prepared in business. It shows estimated sales units…

Q: SHUTDOWN OR CONTINUE OPERATIONS DANCING ELF INC. produces white glue (a wood glue) that is used by…

A: Variable cost is the cost that changes with the change in the output level.

Q: 13. The mid-month convention applies to... a. assets purchased during the last 3 months whose…

A: The mid-month convention states that the asset purchased during the month is treated as a mid-month…

Q: Crescent Company produces stuffed toy animals; one of these is “Arabeau the Cow.” Each Arabeau takes…

A: Budget is the estimation made for future period. For example, direct material budget, direct labour…

Q: Zisk Company purchases direct materials on credit. Budgeted purchases are April, $83,000: May,…

A: Notes: Cash Payments in Current Month April = Material Purchases for April X 70% April = $ 83,000 X…

Q: You have just been hired into a management position which requires the application of your budgeting…

Q: 87. The seller in an auction sale employed a by-bidder or pupper who bid in behalf of the seller for…

A: If the seller makes use of pretended bidding to raise the price, the sale is voidable at the option…

Q: The following are the inventories for the years 2016, 2017, and 2018 for Parry Company: Cost Market…

Q: prepare the statement of owners equity

Q: a. Compute the depreciation on each machine (machine 1 and 2) to the date of disposal b. Calculate…

A: Double declining depreciation method is the method which a company used to depreciate its fixed…

Q: Problem 11-39 Budgets and Performance Evaluation (LO 11-1, 11-6) Johnson Electrical produces…

A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…

Q: Prepare the Income Statement t

Q: Prepare the journal entry to record the sale of 1,300 units that cost $6 per unit and sold for $17…

A: Journal entry recording is the initial step of accounting cycle process. Under this atleast one…

Q: Isue Price Whitworth International plans te issue $500,000 face value bonds with a stated interest…

Q: The maturity value of a P100,000 , four-month, 9% note is

A: Note receivable is one of the current assets of the business, on which payment is expected to be…

Q: Municipal bond interest Ordinary dividends Qualified dividends Taxable interest $20,000 $3,000…

A: The deduction of interest on investment that is paid to broker depends on the income from the…

Q: MMB iss

A: Yield to maturity is the current interest rate of the bond which is used for discounted the bond's…

Q: Balance of Ariel, Capital The trial balance for Ariel Certified Cleaners appears as follows: Ariel…

A: Note: There is no adjustment entry mentioned in the Question, hence I assume that the Trial Balance…

Q: The following balance sheet is for X Company: Balance Sheet January 1, 2021 Assets Equities Cash…

A: Solution: Ending Total assets = Beginning Total assets + Increase in assets during the year -…

Q: APPLICATION Prepare the adjusting entry for each of the following for the year ended December 31,…

A: The adjustment entries are prepared to adjust the revenue and expenses of the current period. The…

Q: Jordan pays $3,000 in tuition to New York University for completion of his Masters in Tax degree.…

A: If you’re self-employed, you can deduct the cost of education for your trade or business on Schedule…

Q: EOQ for Purchasing considered as . (Choose the correct answer) O a. None of them O b. Optimal Order…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Shalimar Company manufactures and sells industrial products. For next year, Shalimar has budgeted…

A: Sales show the revenue of the company which includes the credit sales and cash sales. Credit sales…

Q: a. Match each of the principles and phases in the development of an accounting system with the…

A: Assets are any resource owned by an entity which provide future benefit. Tangible assets are those…

Q: For the past 3 years, Warrem has operated a part-time business venture from his home. As of April 1,…

A: Journal: It implies to a primary book of accounting that is used by the business for recording it's…

Q: The financial manager of Company A is evaluating Company B as a possible acquisition. Company B is…

A: Acquisition of other company's business is known as business acquisition. Under acquisition, all…

Q: Finlay, Inc., issued 4,000 shares of $50 par value preferred stock at $119 per share and 6,000…

A: Lets understand the basics. When shares are issued for more than its stated value or par value then…

Q: Balance of Salaries Expense The trial balance for Ariel Certified Cleaners appears as follows: Ariel…

A: Financial statements are those statements which are prepared by business at the end of financial…

Q: On September 1, Starr Guitar Corp, borrowed $24,000 from their bank, and signed a 8%, 3- month bank…

A: Formula used: Interest amount = Loan amount x Time period x Interest rate

Q: management accounting and (2

A: Management accounting As per the Financial Services Institution, management accounting is the…

Q: What are analytical procedures, and why are they a useful audit tool?

A: Analytical procedures are those procedures that are used as a substantive test to obtain evidence…

Q: Operating data for Blue Spruce Corp. are presented as follows. 2022 2021 Sales revenue $834,000…

A: Vertical analysis is one of the form of financial statement analysis under which each item is being…

Q: Prepare the Journal Entries to the individual T-Account

A: Journal entries recording is the first step of accounting cycle. Under this, atleast one account is…

Q: f you wish to save $875,000 in three years, how much would you need to deposit at the start of each…

A: Principal amount invested to save $ 875000 is $ $ 744,941 so to start depositing at the beginning of…

Q: Prepare Closing Entries

A: The questions is related to Journal Entries. Journal entries are the first step of accounting. All…

Q: Company Alpha has been constructing a new piece of plant over the past 18 months which is due to…

Q: Under what conditions will the weighted average and FIFO methods give essentially the same results?

A: Under the FIFO (First in first out) method of inventory valuation, goods which are purchased first…

Q: HINT: STEP-BY-STEP WALKTHROUGH 1. Horizontal analysis: Create a new sheet within your Excel workbook…

A: Horizontal analysis is one of the financial statement analysis under each increase or decrease is…

Q: A firm has the following balance sheet and income statement numbers for 2020: Sales re venue $4,000…

A: The Net income is calculated from the Income statement. All the expenditure are deducted from the…

Q: equired:

A: These are the accounting transactions that are having a monetary impact on the financial statement…

Q: Compute the following: The amount of ending inventory reported under absorption costing method If…

A: Contribution margin is the excess sales over variable cost

Q: Prepare a Classified Balance Sheet

A: The balance sheet is a statement of the financial position of enterprises at a given date that…

Q: -the SEC requires listed firms to use GAAP on 1938 1970 1930 d 1934

A: SEC stands for Securities and Exchange commission oversees the securities exchanges, disclosure of…

Q: SA Construction Limited currently operates in Trinidad. The company is considering setting up…

A: A company is allowed to change the registered office of the company by passing a special resolution…

Q: Note Payable problem. On November 1, 2021, Good Luck Inc. received Equipment valued at $600,000 in…

A: Note payable is one of the liability of the business, on which regular interest payments needs to be…

Q: a . La 91% i 6:39 PM A review of insurance policies showed that P6,800 is unexpired at the year-end.…

A: Unexpired Insurance is also known as prepaid insurance. It is an current asset that has been been…

Q: . A cooperative has an approved capital of P1M, the maximum share capital a member can invest is:…

A: it is important to have the growth prospective with cooperative as a tool for promoting self…

Question

geNOWv2 |Online teachin x
eAssignment/takeAssignmentMain.do?invoker%=&takeAssignmentSessionLocator=&inprogress=false
Pilger Corporation has cash on hand at year-end of $201,000 and a negative cash flow from operations of $144,000. What is the ratio of cash to
monthly cash expenses?
Oa, 7.2 months
Ob. 12.0 months
Oc. 1.4 months
Od. 16.8 months
Ne
Previous

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Jarem Company showed 189,000 in prepaid rent on December 31, 20X1. On December 31, 20X2, the balance in the prepaid rent account was 226,800. Rent expense for 20X2 was 472,500. Required: 1. What amount of cash was paid for rent in 20X2? 2. CONCEPTUAL CONNECTION What adjustment in prepaid expenses is needed if the indirect method is used to prepare Jarems statement of cash flows?
Green Company uses the Baumol model tomanage its disbursement account. Monthlycash disbursement is P1,200,000. Cash in thisaccount could have earned 5% on moneymarketable securities. Green incurs P576every time cash is transferred to this account.The optimum cash balance is A. 576,000.00B. 166,276.88C. 124,707.66D. 432,000.00
CBD Shop cash balance in the balance sheet ending June 30 20X0 shows $16 000. The net cash flows during the year ending 30 June 20X1 is $12 000 and Which of the following is true? a. The shop net loss for the year ending 20X1 is $4 000. b. The withdrawal during the year is $4 000. c. The equity in the balance sheet ending 30 June 20X1 is $28 000. d. The cash in the balance sheet ending 30 June 20X1 is $28 000
CBD Shop cash balance in the balance sheet ending June 30 20X0 shows $16 000. The net cash flows during the year ending 30 June 20X1 is $12 000 and Which of the following is true? a.The shop net loss for the year ending 20X1 is $4 000. b.The withdrawal during the year is $4 000. c.The equity in the balance sheet ending 30 June 20X1 is $28 000. d.The cash in the balance sheet ending 30 June 20X1 is $28 000
1. Compute the current assets.Cash Php 25,867.00Barney’s drawing 50,485.00Accounts Payable 78,584.00Notes Receivable 45,051.00Building 1,500,125.00Inventory 33,669.002. Compute the Net Income.Service Income Php 356,867.00Prepaid Rent 16,800.00Interest Expense 1,523.00Barney’s drawing 21,786.00Taxes 4,544.00Utilities Expense 3,651.003. The liabilities of Bb Barn are equal to 1/3 of thetotal assets. The owner's equity is P 6,300,500. Whatis the amount of the liabilities?4. Prepare journal entries to the following transactionsfor the year 2020.Sept. 1 V Barney invested Php 150,000 in Barney repair ShopSept 3 Purchased equipment worth Php 80,000 on account.Sept. 12 Paid Php 25, 000 for the equipmentpurchased dated Sept. 3, 2020.Sept. 15 Rendered service amounting toPhp 45,000.Sept. 17 Paid salaries to employees, Php16,000
9. Bane Company reported P210,000 in sales. Its opening accounts receivable balance was P45,000 and its ending accounts receivable balance was P50,000. The company also reported P20,000 unearned revenues at the end of the year. What was the amount of cash collected from customers for the year? Group of answer choices 210,000 205,000 215,000 225,000
Beginning and ending Cash account balances of Rainbow, Inc. were $14,000 and $32,000 respectively. If total cash paid out during the period was $30,000, what amount of cash was received during the period? Group of answer choices $24,000 $48,000 $40,000 $36,000
Revenue R100 000, Debtors (opening R50 000, closing R110 000), Calculate Cash Receipts from Customers. Select one: a. R60 000 b. R40 000 c. R110 000 d. R100 000
JUDLAH SERVICES LIMITED Judlah Services Limited has been trading for the past five years. Last year they have recently realized that they are experiencing frequent cash flow issues. Their financial accountant has suggested the tracking of the inflows and outflows of the company’s cash. The following information on revenue and costs were made available to you: Month Sales Purchases ($’000) ($’000) October 2020 1 400 000 1 137 500 November 2020 1 050 000 787 500 December 2020 1 575 000 1 312 500 January 2021 875 000 612 500 February 2021 1 050 000 787 500 March 2021 1 225 000 962 500 April 2021 1 050 000 787 500 Additional notes: The cash balance on January 01st 2021 was $262 500; 20% of sales is usually attributable to cash sales while the remainder is settled: One month after sales: 60%; Two months after sales: 20%. 2% of sales is allocated to Sales Expenses and is paid in the month of sale; 50% of cost…
JEY-4322 Inc. reported the following data for last year: JEY-4322 Inc.Balance Sheet Beginning BalanceEnding BalanceAssets Cash$ 128,000$ 139,000Accounts receivable331,000481,000Inventory567,000471,000Plant and equipment, net894,000869,000Investment in Tesla Inc.400,000428,000Land (undeveloped)246,000249,000Total assets$ 2,566,000$ 2,637,000Liabilities and Stockholders' Equity Accounts payable$ 382,000$ 341,000Long-term debt981,000981,000Stockholders' equity1,203,0001,315,000Total liabilities and stockholders' equity$ 2,566,000$ 2,637,000 JEY-4322 Inc.Income StatementSales $ 3,880,000Operating expenses 3,336,800Net operating income 543,200Interest and taxes: Interest expense$ 111,000 Tax expense197,000308,000Net income $ 235,200 JEY-4322 Inc. paid dividends of $123,200 last year. The “Investment in Tesla Inc.” item on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return is 15%. What was the company’s residual income…
Required: Solutions and explanation The beginning cash balance of Arizona Corp. is P700,000. It foresees the following cashflows for the month: (A) Collections from customers - P1,000,000, (B) Payments to suppliers - P550,000, (C) Other operating cash expenses - P50,000, (D) Payments to creditors - P50,000 and (E) collection of a receivable from an officer - P80,000. If Arizona needs to have a month-end balance of P1,000,000, how much should it borrow or (invest)? * (P130,000) P110,000 (P110,000) P130,000
The cash balance of Lalana Company is 434000OMR at the beginning of the year. The cash flows during the year are given as follows; Operating cash inflow:38490 Financing cash outflow: 22430 Investing inflow: 95800 Which of the following is the cash balance at the end of the year. Select one: a. 468890 b. 465760 C. 554520 d. 545860