Pharoah Company expects to have a cash balance of $101,200 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2022. 1. Collections from customers: January $156,200, February $321,200.
2. Payments to suppliers: January $88,000, February $165,000.
3. Wages: January $66,000, February $88,000. Wages are paid in the month they are incurred.
4. Administrative expenses: January $46,200, February $52,800. These costs include depreciation of $2,200 per month. All other costs are paid as incurred.
5. Selling expenses: January $33,000, February $44,000. These costs are exclusive of depreciation. They are paid as incurred.
6. Sales of short-term investments in January are expected to realize $26,400 in cash. Pharoah Company has a line of credit at a local bank that enables it to borrow up to $55,000. The company wants to maintain a minimum monthly cash balance of $44,000.
Prepare a cash budget for January and February.

Select the correct answer. the word intestate means that a person has died with or without a will?

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

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