Question: Share the steps pls Smith Ltd. is trying to decide whether it is going to need to take a loan in coming January to buy

Share the steps pls
Smith Ltd. is trying to decide whether it is going to need to take a loan in coming January to buy a new microcomputer system. The microcomputer will cost $9,090. The president, James Smith, has collected the following information about her operations as at December 31 : 1. Balance of selected ledger accounts: 2. Sales history and forecast (unit selling price, $10 ): 3. All sales are on credit and are due 30 days after the sale. 4. Cash payments for purchases are as follows: two-thirds in the month of purchase; one-third in the month after that. 5. Smith Ltd. collects 50% of a month's sales one month after the sale and 45% two months after the sale; 5% are uncollectible. 6. The company purchases inventory as required under terms of 2/10, net 30 . It always takes the 2% discount, but records purchases at gross cost. 7. Inventory costs $5 per unit, gross. 8. Other expenses, all paid in cash as incurred, average about 30% of the sales dollar amount. Depreciation is part of these expenses and costs $3,030 per month. 9. Smith Ltd. keeps a minimum cash balance of $4,000. Prepare a cash budget for January, indicating whether Smith Ltd. will need a loan to finance its computer acquisition. (Enter negative amounts using either a negative sign preceding the number e.g. 45 or parentheses eg. (45). Round answers to 0 decimal places, e.g. 5,275
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