This Tutorial contains Excel Sheet which can be used to solve below mentioned Problem for any numbers\/values\t\u00a0\t\u00a0\tComplete\u00a0the assigned exercises in WileyPLUS.\t\u00a0\t\t\tChapter 7 – Excel Assignment (E7-8);\t\t\tChapter 7 – Excel Assignment (E7-14: Cash Budget)\tExercise 7-8\tThe following information pertains to Joyce Company.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t1.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tCash balance per bank, July 31, $7,419.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t2.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tJuly bank service charge not recorded by the depositor $57.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t3.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tCash balance per books, July 31, $7,455.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t4.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tDeposits in transit, July 31, $2,791.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t5.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tNote for $2,091 collected for Joyce Company in July by the bank, plus interest $55 less fee $39. The collection has not been recorded by Joyce Company, and no interest has been accrued.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t6.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tOutstanding checks, July 31, $705.\t\t\t\t\t\t\tExercise 7-14\tEnright Company expects to have a cash balance of $63,550\u00a0on January 1, 2014. These are the relevant monthly budget data for the first two months of 2014.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t1.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tCollections from customers: January $88,550, February $163,550.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t2.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tPayments to suppliers: January $57,550, February $92,550.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t3.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tWages: January $30,161, February $40,161. Wages are paid in the month they are incurred.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t4.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tAdministrative expenses: January $21,161, February $24,161. These costs include depreciation of $1,000 per month. All other costs are paid as incurred.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t5.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tSelling expenses: January $15,161, February $20,161. These costs are exclusive of depreciation. They are paid as incurred.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t6.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tSales of short-term investments in January are expected to realize $12,161 in cash. Enright has a line of credit at a local bank that enables it to borrow up to $25,000. The company wants to maintain a minimum monthly cash balance of $37,550.\t\t\t\t\t\t\t\tPrepare a cash budget for January and February.<\/p>\n","protected":false},"excerpt":{"rendered":"
This Tutorial contains Excel Sheet which can be used to solve below mentioned Problem for any numbers\/values \u00a0 \u00a0 Complete\u00a0the assigned exercises in WileyPLUS. \u00a0 Chapter 7 – Excel Assignment (E7-8); Chapter 7 – Excel Assignment (E7-14: Cash Budget) Exercise Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-218705","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/218705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=218705"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/218705\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=218705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=218705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=218705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}