130 which of the following is an example of a financial budget a budgeted balance sh 4310311

130) Which of the following is an example of a financial budget?

A) Budgeted balance sheet

B) Sales budget

C) Budgeted income statement

D) Operating expenses budget

131) All of the following are considered when preparing the cash budget except

A) payments for inventory.

B) cash receipts from customers.

C) depreciation expense.

D) cash payments to suppliers.

132) The final step in the preparation of the financial budget is the preparation of which of the following?

A) Master budget

B) Cash budget

C) Operating budgets

D) Budgeted balance sheet

133) Distribution Corporation collects 40% of a month's sales in the month of sale, 55% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are:

April budgeted sales	$100,000
May budgeted sales	$150,000
June budgeted sales	$230,000
July budgeted sales	$180,000

 

The amount of cash that will be collected in July is budgeted to be

A) $72,000.

B) $179,500.

C) $206,000.

D) $195,500.

134) Eastern Corporation collects 10% in the second month following sale, 55% in the month following sale and 35% of a month's sales in the month of sale. Budgeted sales for the upcoming four months are:

April budgeted sales	$100,000
May budgeted sales	$150,000
June budgeted sales	$230,000
July budgeted sales	$180,000

 

The amount of cash that will be collected in July is budgeted to be

A) $63,000.

B) $204,500.

C) $173,000.

D) $197,000.

135) Natcher Corporation collects 30% of a month's sales in the month of sale, 55% in the month following sale, and 10% in the second month following sale. The company has found that 5% of their sales are uncollectible. Budgeted sales for the upcoming four months are:

August budgeted sales	$300,000
September budgeted sales	$280,000
October budgeted sales	$330,000
November budgeted sales	$260,000

The amount of cash that will be collected in November is budgeted to be

A) $287,500.

B) $283,000.

C) $78,000.

D) $291,500.

136) Sharon Corporation collects 15% in the second month following sale, 45% in the month following sale and 35% of a month's sales in the month of sale. The company has found that 5% of their sales are uncollectible. Budgeted sales for the upcoming four months are:

August budgeted sales	$300,000
September budgeted sales	$280,000
October budgeted sales	$330,000
November budgeted sales	$260,000

The amount of cash that will be collected in November is budgeted to be

A) $286,500.

B) $285,500.

C) $91,000.

D) $281,500.

137) Einstein Company is preparing its cash budget for the upcoming month. The beginning cash balance for the month is expected to be $14,000. Budgeted cash receipts are $84,000, while budgeted cash disbursements are $72,000. Einstein Company wants to have an ending cash balance of $40,000. The excess (deficiency) of cash available over disbursements for the month would be

A) $170,000.

B) $(26,000).

C) $112,000.

D) $26,000.

138) Wriston Company is preparing its cash budget for the upcoming month. The beginning cash balance for the month is expected to be $12,000. Budgeted cash disbursements are $70,500, while budgeted cash receipts are $86,100. Wriston Company wants to have an ending cash balance of $40,000. The excess (deficiency) of cash available over disbursements for the month would be

A) $27,600.

B) $168,600.

C) $(27,600).

D) $110,500.

139) Roman Company is preparing its cash budget for the upcoming month. The budgeted beginning cash balance is expected to be $40,000. Budgeted cash receipts are $101,000, while budgeted cash disbursements are $123,000. Roman Company wants to have an ending cash balance of $45,000. How much would Roman Company need to borrow to achieve its desired ending cash balance?

A) $18,000

B) $27,000

C) $23,000

D) $63,000

140) Brockman Company is preparing its cash budget for the upcoming month. The budgeted beginning cash balance is expected to be $35,000. Budgeted cash disbursements are $123,000, while budgeted cash receipts are $130,000. Brockman Company wants to have an ending cash balance of $48,000. How much would Brockman Company need to borrow to achieve its desired ending cash balance?

A) $6,000

B) $90,000

C) $42,000

D