Introduction For this piece of assignment‚ a cash budget will be made for Doomy Corporation for the second quarter of the year. For this budget‚ all the sales figures for the second quarter and some of the expenditure have been given. Hence‚ to prepare a cash budget‚ the sales figure given will be used and some calculations will be worked out in order to fully prepare an outstanding budget for Doomy Corporation the following information will be used efficiently. “Doomy Corporation‚ a rapidly expanding
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Case Study 3 - Cash Budget SCHEDULE OF EXPECTED CASH COLLECTIONS FROM CUSTOMERS: Credit Sales August September July ($30‚000 x 40%) 12‚000 August ($24‚000 x 60%)‚ September ($24‚000 x 40%) 14‚400 9‚600 September ($18‚000 x 60%) 10‚800 Total Cash Collections 26‚400 20‚400 SCHEDULE FOR EXPECTED PAYMENTS FOR PURCHASE OF INVENTORY Inventory purchases August September July ($65‚000 x 50%) 32‚500 August ($45‚000 x 50%)
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than expected in the budget‚ or * Revenue/profits were higher than expected By contrast‚ an adverse variance might arise because: * Costs were higher than expected * Revenue/profits were lower than expected What causes budget variance? There are four key reasons and it is important that good managers recognise the differences‚ because the action required is may be completely different in each case. The four reasons are: 1. Faulty Arithmetic in the Budget Figures 2. Errors in
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Week 4 Cash Budget Homework Assignment You are the owner of a shop in your local mall that sells shirts. You buy your shirts from wholesalers‚ mark them up and sell them to the public. Below is data on your business you have collected. Annual Sales of your business 2‚000‚000 All sales are cash sales Inventory Purchases made 60 days before sales made Shirt price is 100 percent markup from wholesale price (Wholesale price as percentage of sale price) = 50% Sales for January
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Millions of people entered the US in the late 1800’s‚ but how? Ellis Island was the one and only provider for immigration in the late 1800’s. At first‚ the Battery in lower Manhattan was the immigration station. Eventually‚ the Battery could not handle the flow of immigrants. This caused the federal government to buy Ellis Island from Samuel Ellis‚ a merchant of New York City‚ and that’s how the Islands name was given. Ellis Island was opened on January 1‚ 1892 and closed in November 1954. It was
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CASE STUDY 3 - Cash Budget SCHEDULE OF EXPECTED CASH COLLECTIONS FROM CUSTOMERS: Credit Sales May June April (94‚000 * 0.70) = 65‚800 65‚800 May (89‚500 * 0.30) = 26‚850‚ June (89‚500 * 0.70) = 62‚650 26‚850 62‚650 June (75‚000 * 0.30) = 22‚500 22‚500 Total Cash Collections 92‚650 85‚150 SCHEDULE FOR EXPECTED PAYMENTS FOR PURCHASE OF INVENTORY Inventory purchases May June April (195‚000
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Simone Mann Ms. Gutestein Deborah Ellis Deborah Ellis started writing at age 11-12 inspired at a young age she grasped her talent. As a kid she was constantly moving from place to place due to her father’s work‚ and used writing as a coping method. When she grew up‚ her work and writing was mainly done by traveling and talking to others that have problems and taking note of everything. She started to write the book I am currently the Breadwinner her first book. The Breadwinner takes place
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International Accounting Prof. William Hancock Ellis printing Case Ellis printing Case 1. Prepare Ellis printing Company’s cash budget for the 1st half of 2007 | | | Jan-07 | Feb-07 | Mar-07 | Apr-07 | May-07 | Jun-07 | I. Cash Input | | | | | | | | | Receipt‚ 1% discount‚ Month (1st -20th ) | 6‚600 | 9‚240 | 11‚220 | 13‚200 | 9‚240 | 6‚600 | | Receipt‚ 1% discount‚ Month+1 (21st - 30th ) | 2‚640 | 3‚300 | 4‚620 | 5‚610 | 6‚600 | 4‚620
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Ellis Island Web-quest 1. Open the Internet and go to the following website: http://teacher.scholastic.com/activities/immigration/tour/ 2. Read the introduction and answer the following question: How many immigrants came through Ellis Island on their way to America? [1] More than 12 million 3. Click on “Learn more about Ellis Island” and answer the following questions: Where is Ellis Island located? [1] In New York Harbor‚ near Manhattan Who was the President that established an immigration station
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Ellis Island: Isle of Hope or Isle of Tears? Between 1892 and 1924‚ over 12 million immigrants arrived in America filled with hopeful anticipation of a new life (National Park Service para 1). Following their long journey by ship across the Atlantic Ocean‚ the first stop for many immigrants was Ellis Island. First- and second- class cabin passengers‚ who were immediately cleared for entry into America without being inspected or questioned‚ referred to Ellis Island as the “Isle of Hope.” For
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