The following trial balance was drawn from the records of Havel Company as of October 1, year 2. Cash$16,000 Accounts receivable 60,000 Inventory 40,000 Store equipment 200,000 Accumulated depreciation $76,800 Accounts payable 72,000 Line of credit loan 100,000 Common stock 50,000 Retained earnings 17,200 Totals$316,000 $316,000 c. Indicate whether Havel will need to borrow money during October by preparing October's Cash Budget. (Negative amounts should be indicated by a minus sign.)

Question Completion:

Sales for October are expected to be $180,000, consisting of $40,000 in cash and $140,000 on credit. The company expects sales to increase at the rate of 10 percent per month. All accounts receivable are collected in the month following the sale.

Answer:

Havel Company

Havel may need to borrow money to be able to repay the Line of credit loan, pay salaries, and other office expenses, including interest on the line of credit loan.

Explanation:

a) Data and Calculations:

Havel Company

Trial Balance

As of October 1, Year 2:

Cash                          $16,000

Accounts receivable  60,000

Inventory                    40,000

Store equipment     200,000

Accumulated depreciation      $76,800

Accounts payable                      72,000

Line of credit loan                    100,000

Common stock                          50,000

Retained earnings                      17,200

Totals                    $316,000 $316,000

Expected sales in October = $180,000

Cash sales = $40,000

Credit sales = $140,000

Cash collection: month following the sale

Cash Budget for October 30, Year 2:

Beginning balance             $16,000

Cash receipts

Cash sales                           40,000

Accounts receivable           72,000

Total cash available        $128,000

Cash payments:

Accounts payable              72,000

Line of credit repayment 100,000

Total payments              $172,000

Ending cash balance     ($44,000)

Please see the concluding part of the question as it is incomplete.

Answer

The company (Havel) would have to borrow money inorder  to pay back  Line of credit loan which includes salary payment plus other interest accrued on the line of credit and other petty office expenses.

Havel Company

Trial Balance

As of October 1, Year 2:

Cash                            $16,000

Accounts receivable  $60,000

Inventory                     $40,000

Store equipment        $200,000

Accumulated depreciation        $76,800

Accounts payable                      $72,000

Line of credit loan                      $100,000

Common stock                            $50,000

Retained earnings                      $17,200

Totals                          $316,000 $316,000

We know that;

Expected sales in October = $180,000 which is gotten by adding

Cash sales =   $40,000

Credit sales = $140,000

Also,

Cash collection: month following the sale

Cash Budget for October 30, Year 2:

Beginning balance             $16,000

Cash receipts;

Cash sales                          $40,000

Accounts receivable          $72,000

Total cash available           $128,000

Cash payments;

Accounts payable              $72,000

Line of credit repayment   $100,000

Total payments                  $172,000

Ending cash balance         ($44,000)

It therefore means Havel would have to borrow money inorder  to pay back  Line of credit loan which includes salary payment plus other interest accrued on the line of credit and other petty office expenses.

Telephone companies offer lower long-distance rates at certain times of the day or week because at those times

A. The supply of telephone lines increases
B. Supply and demand are equal
C. Demand is greater than supply.
D. Supply is greater than demand.

Which of the following is NOT a disadvantage of personal interviews?
​

how will you try overcoming the lower price offer by a competitor?

If a company exchanges a debt instrument with no ready market for property with an indeterminable fair value, it should not be recorded on
a. the books of either party until the fair value of the property becomes evident.
b. the board of directors of the entity receiving the property should estimate a value for the property that will serve as a basis for the transaction. c. the directors of both entities involved in the transaction should negotiate a value to be assigned to the property.
d. the present value of the debt instrument must be approximated using an imputed interest rate.

what are two examples of ways an electronic record may be disturbuted to others?

What part of wildlife management involves trapping animals in areas where they are abundant and releasing them in areas of suitable habitat where they are not abundant?

habitat improvement


artificial stocking


predator control


hunting regulations

What part of wildlife management involves trapping animals in areas where they are abundant and releasing them in areas of suitable habitat where they are not abundant?

habitat improvement


artificial stocking


predator control


hunting regulations

purpose of corporate management​

The following information pertains to Carla Vista Company.

1. Cash balance per books, August 31, $7,374.
2. Cash balance per bank, August 31, $7,338.
3. Outstanding checks, August 31, $696.
4. August bank service charge not recorded by the depositor $48.
5. Deposits in transit, August 31, $3,110.

In addition, $2,426 collected for Carla Vista Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Carla Vista Company.

Required:
Prepare a bank reconciliation at August 31, 2022.

If you are an HR Manager , which among these rating sources do you believe in the most crucial?

The year is 2022 and today is July 1 (by assumption). You plan to fly from Newark to Amsterdam on August 2 and return on August 25. Today you can buy a one-way ticket for $350 or a round-trip ticket for $660. You could also wait until August 1 to buy your tickets. On August 1, a one-way ticket in either direction will cost $370, and a round-trip ticket will cost $730. Between July 1 and August 1, there is a 30% chance that your best friend will be able to provide you with a free one-way ticket as a present. If you buy a round-trip ticket on July 1 for $660 and your friend provides a free ticket, then you can return the second half of your round-trip ticket to the airline, after paying a $50 penalty. In this case, your net travel cost will become $380. Develop a decision tree to determine how to minimize your expected travel cost. Find the optimal policy.

A manufacturer has two manufacturing departments, Assembly and Painting. The company uses the FIFO method and it reports the following data. Units completed in the Assembly department are transferred to the Painting department. Units Direct materials Percent Complete Conversion Percent Complete Beginning work in process inventory 75,000 60% 40% Units started this period 900,000 Units completed and transferred out 885,000 Ending work in process inventory 90,000 80% 30% Production cost information for the Assembly department follows. Beginning work in process Direct materials $ 134,400 Conversion 45,900 $ 180,300 Costs added this period Direct materials $ 3,693,600 Conversion 2,690,100 $ 6,383,700 Calculate the number of units started and completed this period for the Assembly department.

Suppose that the market interest rate increases to 6.875 percent annually compounded (increase by 87.5 basis points) during the first year of your purchase (within year 1), and it remains at that level (6.875 percent) for the next five years. Assume that, the reinvestment rate for the first coupon payment is the new interest rate, that is, 6.875 percent annually compounded. In addition, you will reinvest the coupon payments in a zero-coupon bond. [You already computed total proceeds (both from reinvestment of coupon payments plus face value) at the end of your investment horizon (t=6) years in Part B of the problem.] Now, what is your annually compounded holding period return (HPR) at the end of your investment horizon (t=6) years?

(STATEMENT OF STOCKHOLDERS’ EQUITY) In its most recent financial statements, Nessler Inc. reported $75 million of net income and $825 million of retained earnings. The previous retained earnings were $784 million. How much in dividends were paid to shareholders during the year? Assume that all dividends declared were actually paid.

what are the various level of professions​

Addenda E of the Resource Pack of Business Studies​

Julio does not specialize in a particular function; instead, he provides overall guidance and leadership for the company. Julio is an administrative or ____ manager.

What is the answer to this?

What is yall favorite sport to play? And why?

Which of the following is an item of capital expenditure?
A. repairs to a machine
B. purchase of a machine
C. cost of goods sold
D. wages cost​

why would you use computer-aided design (cad) software?

Which word names the way the different parts of language are arranged?
Gramma
Pronunciation
Structure
Diction

A contract with an illegal object is not voidable
True
False

Multiple Choice
Which of the following exemplifies wisdom as defined by Maslow?
A con artist who can persuade anyone and everyone to hand over their valuables.
O A counselor who helps families who have been feuding for generations bury the hatchet.
A scholar who has read thousands of books.
O A world traveler who can pick up languages and customs like a native.

Which scenario best reflects the relationship between production and demand in a recession?
Car dealerships have minimal overstock.
Car dealerships are not restocking.
• Car dealerships cannot sell their stock.
• Car dealerships cannot obtain stock.

Help it's due today
7-9

Portraits. Belinda, a famous portrait painter, agreed to paint Harry's portrait for $5,000. She also agreed to paint the portraits of Michelle's two Welsh Corgi dogs, Baby and Bree. Michelle agreed to pay Belinda $12,000 for the portraits. Belinda charged Michelle more because dogs annoyed her. Belinda met the spoiled dogs, and they really got on her nerves. Plus, she was behind on finishing Harry's portrait. Belinda, therefore, proceeded to assign the right to receive the money for the dog portraits and the duty to paint the dog portraits to her assistant, Fred. He eagerly accepted and painted the portraits. As payment for amounts she owed him for various duties, Belinda also assigned to Fred the right to receive payment from Harry. Neither the contract Belinda had with Harry nor the contract she had with Michelle expressly prohibited assignment or delegation of contractual rights and duties. Belinda finished the portrait of Harry and called him to come and pick it up. Meanwhile, a disgruntled secretary who disliked Belinda told both Michelle and Harry about the agreements with Fred. Michelle was furious and refused to pick up the portrait or pay anyone. Harry likewise refused to pay for his portrait claiming that the right to payment could not be assigned. What would be the most likely result if Fred sues Harry for the $12,000 payment?
A. Fred will lose unless Fred can prove that he was ignorant of the fact that Harry did not want the benefits assigned.
B. Harry will win because the portrait was personal in nature and could not be assigned.
C. Harry will win because he did not expressly agree to the assignment.
D. Fred will win because the right to receive payment could be validly assigned.
E. Fred will win unless Harry can prove that Fred knew that Harry did not want the benefits assigned.

The following entries appear in a cash account in March. $ Payments by customers 15,000 Rents received 250 Insurance paid 150 Drawings 700 Capital paid in 2,000 The balance at 1st March was $2,000 (in hand) what was the closing balance at 31st March? ​

You want a seat on the board of directors of Four Keys, Inc. The company has 290,000 shares of stock outstanding and the stock sells for $49 per share. There are currently 5 seats up for election. The company uses straight voting. How many shares do you need to guarantee that you will be elected to the board?
a. 96,668 shares
b. 48,334 shares
c. 58,000 shares
d. 130,501 shares
e. 145,001 shares

An entrepreneur is a person who__a business venture.
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organizes
does not get involved in
operates

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Wyoming Restoration Company completed the following selected transactions during July 20Y1:
July 1. Established a petty cash fund of $1,200. 12.
The cash sales for the day, according to the cash register records, totaled $8,356. The actual cash received from cash sales was $8,389. 31.
Petty cash on hand was $217. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:
July 3. Store supplies, $510.
7. Express charges on merchandise sold, $90 (Delivery Expense).
9. Office supplies, $30.
13. Office supplies, $35.
19. Postage stamps, $50 (Office Supplies).
21. Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense).
22. Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense).
24. Express charges on merchandise sold, $135 (Delivery Expense).
30. Office supplies, $25.
July 31. The cash sales for the day, according to the cash register records, totaled $10,289. The actual cash received from cash sales was $10,275.
31. Decreased the petty cash fund by $100.
Journalize the transactions.