Question Details

(Solved) You (First name Last name) are a relatively recent hire to the Hartz & Co., a local manufacturer of plumbing supply products. You have been...


Here my last question related to accounting/ excel. Again, the yellow cells are what's graded and don't need to worry about additional formatting under the comments as I'll be checking it anyways.

You (First name Last name) are a relatively recent hire to the Hartz & Co., a local manufacturer of plumbing supply products. You have been asked to prepare for a presentation to the company’s management a condensed cash-flow
statement for the months of November and December, 2013.
The cash balance at November 1st was $54,300. It is the company’s policy to maintain a minimum cash balance of $31,000 at the end of each month. Cash receipts (from cash sales and collection of accounts receivable) are projected to be
$350,000 for November and $287,000 for December. Cash disbursements (sales commissions, advertising, delivery expense, wages, utilities, etc.), prior to financing activity, are scheduled to be $375,000 in November and $284,800 in
December.
Borrowing, when needed, is done at the beginning of the month - in increments of $600. The annual interest rate on any such loans is estimated to be 8.00%. Interest on any outstanding loans is paid in cash at the end of the month. Interest
on any outstanding loans is paid in cash at the end of the month. Repayments of principal (if any) are assumed to occur at the end of the month. Required: Use the preceding information to prepare the cash budget for November and December. (Hint: The December 31st cash balance should be $.)
Data Input:
Cash balance, November 1st
Minimum required cash balance
Budgeted cash receipts:
November
December
Budgeted cash disbursements:
November
December
Interest rate on borrowings
Short-term loan payable, as of November 1st
Borrowings in increments of $54,300
$31,000
$350,000
$287,000
$375,000
$284,800
8.0% per year
$0
$600 Solution:
Cash Budget
For November and December, 2013
November
Cash balance, beginning
Plus: Cash receipts
Total Cash Available
Cash disbursements, prior to financing
Plus: Minimum cash balance (given)
Total Cash Needed
Excess (deficiency of) cash, before financing effects
Financing:
Balance Short term loan beginning of month
Short-term borrowing, beginning of the month
Repayments (loan principal), end of the month
Balance Short term loan end of month
Interest (@8.00%), paid in cash @ end of the month
Total effects of financing
Ending cash balance
Most of the points are on cells I39, I40 and L39, L40 December Excel Instructions No additional Excel instructions
No pivot tables, no tables/lists, no range names, no charts.

 


Solution details:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Sep 05, 2019

PRICE: $18

Solution~000200168208.zip (25.37 KB)

Buy this answer for only: $18

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free solution (Deadline assured. Flexible pricing. TurnItIn Report provided)

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
SiteLock

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Sep 05, 2019

EXPERT

Tutor

ANSWER RATING

GET INSTANT HELP/h4>

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • As a reference for in-depth understanding of the subject.
  • As a source of ideas / reasoning for your own research (if properly referenced)
  • For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

NEW ASSIGNMENT HELP?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN YOUR SET DEADLINE.

Order Now