Income Statement Prepare the budgeted income statement. Cash Flows Balance Sheet Budgeted Income Statement Sales revenue Cost of goods sold Depreciation expense Operating income Interest expense Net income 33 ›› $ 372,000 X (336,000) X (4,000) X 32,000 X (840) X $ 31,160
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- The costing and finance function prepares. a Budget and forecast calculations O b. Fixed asset depreciation calculations Oc. Salaries and wages calculations Od. Expense and income calculations Oe Income tax and value added tax calculations Clear my choiceWhich of the following includes only financial budgets? capital asset budget, budgeted income statement, sales budget production budget, capital asset budget, budgeted balance sheet cash budget, budgeted balance sheet, capital asset budget budgeted income statement, direct material purchases budget, cash budgetWhen preparing the cash budget,the repayment of loans would be found in which section? A.financing activitiesB.operating activitiesC.investing activitiesD.cash flow statementE.liability statement
- A plan that shows the cash balance on hand at the beginning of a budget period, expected cash flow from operations, cash flows from investing activities, cash flows from financing activities, and an ending cash balance is called a(n): Financial budget. Cash budget. Capital budget. Operating budget. Cash receipts budget.Define each of the following terms:a. Working capital; net working capital; net operating working capitalb. Relaxed investment policy; restricted investment policy; moderate investment policyc. Permanent current assets; temporary current assetsd. Current assets financing policy; maturity matching (self-liquidating) approache. Cash conversion cycle (CCC); inventory conversion period; average collection period;payables deferral periodf. Cash budget; target cash balanceg. Lockbox; account receivableh. Credit policy; credit period; discounts; credit standards; collection policy; credit terms;credit scorei. Trade credit; free trade credit; costly trade creditj. Promissory note; line of credit; revolving credit agreementk. Prime rate; regular, or simple interest; add-on interestl. Commercial paper; accruals; spontaneous fundsm. Secured loanAfter-Tax Cash Flows Using the data that is shown below - (a) calculate the individual after-tax cash flow effect of each relevant item in each independent situation, and (b) sum the individual after-tax cash flows in each situation to determine the overall net after-tax cash flow. A B C Cash revenue received 66,000 315,000 165,000 Cash operating expenses paid 38,400 231,000 99,000 Depreciation on tax return 8,400 19,200 15,000 Income tax rate 30% 25% 20% Do not use negative signs with any of your answers below. A B C (a) Cash revenue Answer Answer Answer Cash operating expenses Answer Answer Answer Depreciation expense Answer Answer Answer (b) Net after-tax cash flow Answer Answer Answer
- Define each of the following terms:f. Cash budget; target cash balanceExplain statement of cash flows proforma and its significance in budgeting. Provide a hypotheticalexample of financial statements consisting of an initial balance sheet, income statement, statementof cash flows and ending balance sheet in a manufacturing enterprise.This method consists of taking the estimated statement of income for the next period and adding or subtracting to the profit or loss the items affecting cash that are not included as sales or expenses. This definition corresponds to the method: (Choose one option) A) of the budgeted income statement B) projected balance sheet C) cash inflows and outflows D) contemporaneous cash planning method
- What type of budget pertains to cash receipts and disbursements? O Cash Budget O Operations Budget O Flexible Budget O Capital BudgetingComplete g cash budget table please and thank youuse the information in the income statement below to calculate operating cash flow (OCF). sales- $1,280 COGS- $620 Dep Exp- $180 EBIT- $480 Int Exp- $110 EBT- $370 Taxes- $78 NI- $292
