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Essay

Problem Set I

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Issue:

Miscellaneous

 

Written by:

Rhonda T

 

Date added:

June 30, 2012

 

Level:

University

 

Grade:

A

 

No of pages / words:

3 / 680

 

Was viewed:

6284 times

 

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Essay content:

Materials cost 20 percent of sales and are paid for in cash. Labor expense is 50 percent of sales and its paid in the month of sales. Selling and administrative expense is 5 percent of sales and is also paid in the month of sale. Overhead expense is $12,000 in cash per month; depreciation expense is $25,000 per month...
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Taxes of $20,000 and dividends of $16,000 will be paid in March. Cash at the beginning of January is $70,000 and the minimum desired cash balance is $65,000.For January, February, and March, prepare a schedule of monthly cash receipts, monthly cash payments, and a complete monthly cash budget with borrowings and repayments...
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