Southland Company is preparing a cash budget for August. The company has $17,400 cash at the beginning of August and anticipates $121,600 in cash receipts and $135,300 in cash disbursements during August. Southland Company wants to maintain a minimum cash balance of $10,000. To maintain the minimum cash balance of $10,000, the company must borrow:

In its first year of operations, crane company recognized $31,700 in service revenue, $7,700 of which was on account and still outstanding at year-end. the remaining $24,000 was received in cash from customers. the company incurred operating expenses of $16,600. of these expenses, $12,690 were paid in cash; $3,910 was still owed on account at year-end. in addition, crane prepaid $3,260 for insurance coverage that would not be used until the second year of operations.

True or false: banks are required to make electronically deposited funds available on the same day of the deposit

Suppose a holiday inn hotel has annual fixed costs applicable to its rooms of $1.2 million for its 300-room hotel, average daily room rents of $50, and average variable costs of $10 for each room rented. it operates 365 days per year. the amount of operating income on rooms, assuming an occupancy* rate of 80% for the year, that will be generated for the entire year is *occupancy = % of rooms rented