Cash Budgeting

In: Other Topics

Submitted By trinidad327
Words 1707
Pages 7
SWOT Analysis

Organizational History
Farmers Insurance was started in 1927 by John Tyler and Thomas Leavey in Los Angeles California as Farmers Automobile Inter-Insurance Exchange. According to “The Farmers Story” in March of 1928 Tyler and Leavey wrote their first auto insurance policy to Charles Brisco on his 1925 Cadillac Phaeton. When Mr. Brisco was asked years later why he had chosen a new and untested company, he stated “I just exercised sound judgment”. Tyler and Leavey saw an opportunity to serve the farming, ranching, and rural communities in California. Tyler and Leavey expanded markets of insurance throughout the decades. In 1930’s they expanded their business model to include the trucking industry. In the 1940’s Farmers Fire Exchange was added adding Home Insurance. In 1950’s they purchased New World life. Acquisitions and expansions continued throughout the decades. In 1988 Farmers was purchased by British American Tobacco Industry and Zurich Financial Services Group was created. As Farmers declares in 2007 Farmers purchased Bristol West and in 2009 purchase 21st Century Insurance and Financial Services.
According to AM Best Farmers is the third largest personal lines insurer in the United States.

Mission Statement
Farmers has a Vision Statement
Farmers will drive innovation and operational excellence to provide the best value and experience for every customer we are privileged to serve.

Organizational Strengths
The first organizational strength is Farmers Brand. Farmers Insurance is a well recognized national company providing insurance in 41 states of the United States. Farmers is an established insurance company serving its customers for over 8 decades. The Farmers Brand extends to multiple lines of insurance from personal lines, commercial, to financial solutions. The recognition of the Farmers Brand is verified…...

Similar Documents

Acct 504 Case Study 3 Cash Budgeting

...ACCT504 Sample Case Study 3 on Cash Budgeting Solution It is recommended that you share this solution file in Doc Sharing by the end of Week 5 with your students. The Cambridge Company has budgeted sales revenues as follows. Jan Feb Mar Credit sales $45,000 $36,000 $27,000 Cash sales 27,000 76,500 58,500 Total sales $72,000 $112,500 $85,500 Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on credit and 40% is paid in the month of purchase and 60% in the month following purchase. Budgeted inventory purchases are $97,500 in January, $67,500 in February, and $31,500 in March. Other budgeted cash receipts: (a) sale of plant assets for $18,525 in February, and (b) sale of new common stock for $25,275 in March. Other budgeted cash disbursements: (a) operating expenses of $10,125 each month, (b) selling and administrative expenses of $18,750 each month, (c) dividends of $28,500 will be paid in February, and (d) purchase of equipment for $9,000 cash in March. The company has a cash balance of $15,000 at the beginning of February and wishes to maintain a minimum cash balance of $15,000 at the end of each month. An open line of credit is available at the bank and carries an annual interest rate of 12%. Assume that all borrowing is done on the first day of the month in which......

Words: 557 - Pages: 3

Acct 504 Case Study 3 Cash Budgeting

...Study 3 on Cash Budgeting This is a practice case study to help you become familiar with how to create a comprehensive cash budget. The cash budget relates to TCO D and is discussed in Chapter 7. Your professor will provide the solution by the end of Week 5 in Doc Sharing. The actual case study assignment should be uploaded by 11:59 p.m. mountain time on Sunday at the end of Week 6 to the Week 6 Assignment Dropbox. You are encouraged to use the Excel template file provided in Doc Sharing. The Cambridge Company has budgeted sales revenues as follows. Jan Feb Mar Credit sales $45,000 $36,000 $27,000 Cash sales 27,000 76,500 58,500 Total sales $72,000 $112,500 $85,500 Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on credit and 40% is paid in the month of purchase and 60% in the month following purchase. Budgeted inventory purchases are $97,500 in January, $67,500 in February, and $31,500 in March. Other budgeted cash receipts: (a) sale of plant assets for $18,525 in February, and (b) sale of new common stock for $25,275 in March. Other budgeted cash disbursements: (a) operating expenses of $10,125 each month, (b) selling and administrative expenses of $18,750 each month, (c) dividends of $28,500 will be paid in February, and (d) purchase of equipment for $9,000 cash in......

Words: 434 - Pages: 2

Sample Cash Budgeting Solution

...ACCT504 Sample Case Study 3 on Cash Budgeting Solution It is recommended that you share this solution file in Doc Sharing by the end of Week 5 with your students. The Cambridge Company has budgeted sales revenues as follows. Jan Feb Mar Credit sales $45,000 $36,000 $27,000 Cash sales 27,000 76,500 58,500 Total sales $72,000 $112,500 $85,500 Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on credit and 40% is paid in the month of purchase and 60% in the month following purchase. Budgeted inventory purchases are $97,500 in January, $67,500 in February, and $31,500 in March. Other budgeted cash receipts: (a) sale of plant assets for $18,525 in February, and (b) sale of new common stock for $25,275 in March. Other budgeted cash disbursements: (a) operating expenses of $10,125 each month, (b) selling and administrative expenses of $18,750 each month, (c) dividends of $28,500 will be paid in February, and (d) purchase of equipment for $9,000 cash in March. The company has a cash balance of $15,000 at the beginning of February and wishes to maintain a minimum cash balance of $15,000 at the end of each month. An open line of credit is available at the bank and carries an annual interest rate of 12%. Assume that all borrowing is done on the first day of the month in which......

Words: 557 - Pages: 3

Assignment 1 Lasa 2 Cash Management and Budgeting

...Assignment 1: LASA 2—Cash Management and Budgeting Click below link for Answer http://workbank247.com/q/assignment-1-lasa-2cash-management-and-budgeting/4017 Assignment 1: LASA 2—Cash Management and Budgeting The new owner of Bob’s Boats, Bob, just purchased the business and discovered that the prior owner did not have a plan for managing the current assets of the company.  Bob has decided that the place to start is with a cash budget, using the template he used in his prior position. Click here to download the Excel template for this assignment. Bob has requested that you to complete the cash budget given the data that he has already retrieved from the company’s records and from his own analysis. Table-1: Sales Forecast for the next 9 Months | Month | Sales | | January |  $ 162,000.00 | | February |  $ 168,000.00 | | March |  $ 324,000.00 | | April |  $ 485,000.00 | | May |  $ 648,000.00 | |  June |  $ 325,000.00 | | July |  $ 325,000.00 | | August |  $   80,000.00 | | September |  $ 162,000.00 | | Collections on receivables have historically been collected as follows and this pattern is expected to continue: * 12% in the Month of Sale * 60% in the month following the Sale * 28% in the Second Month after the Sale Bob pays for the labor and materials in the month after they are incurred.  Bob has also compiled the following information on expenses for the upcoming nine month period: Table-2: Month | Labor and Materials......

Words: 639 - Pages: 3

Fn 3000 Lp3 Assignment Cost of Goods Sold and Cash Budgeting

...FN 3000 LP3 Assignment Cost of Goods Sold And Cash Budgeting http://hwguiders.com/downloads/fn-3000-lp3-assignment-cost-of-goods-sold-and-cash-budgeting/ FN 3000 LP3 Assignment Cost of Goods Sold And Cash Budgeting Assignments: LP3 Assignment: Cost of Goods Sold & Cash Budgeting. This assignment will assess the competency 3. Construct financial forecasts for an organization. Directions: Chapter 4 – Problems 6, 11, 13, 24 These assigned problems are located in your Foundations of Financial Management textbook. Follow the instructions printed for each problem and submit this assignment in a Microsoft Excel or Word document. Submit this assignment to your instructor via the dropbox, “LP3: Assignment: Cost of Goods Sold & Cash Budgeting.” This assignment is worth 80 points and will be graded according to the following scoring guide. Scoring Guide (80 Points) Rating Scale 8 Work meets or exceeds criterion at a high level of competence. 7 Work reflects an understanding of criterion with minor misunderstandings/misconceptions. 6 Criterion partially met, but one or more important concepts/skills are missing or flawed. 5-4 Work reflects an attempt to meet criterion, but significant misunderstandings/misconceptions are apparent. 3-0 Criterion not met or work is absent. Criteria – Problem 6 1. Net dollar sales projection was calculated correctly. Criteria – Problem 11 2. Total cost of goods sold was calculated......

Words: 267 - Pages: 2

Fn 3000 Lp3 Assignment: Cost of Goods Sold & Cash Budgeting

...FN 3000 LP3 Assignment: Cost of Goods Sold & Cash Budgeting To Buy this Class Copy & paste below link in your Brower http://homeworkregency.com/downloads/fn-3000-lp3-assignment-cost-of-goods-sold-cash-budgeting/ Or Visit Our Website Visit : http://www.homeworkregency.com Email Us : homeworkregency@gmail.com FN 3000 LP3 Assignment: Cost of Goods Sold & Cash Budgeting Assignments LP3 Assignment: Cost of Goods Sold & Cash Budgeting This assignment will assess the competency 3. Construct financial forecasts for an organization. Directions: Chapter 4 – Problems 6, 11, 13, 24 These assigned problems are located in your Foundations of Financial Management textbook. Follow the instructions printed for each problem and submit this assignment in a Microsoft Excel or Word document. Submit this assignment to your instructor via the dropbox, “LP3: Assignment: Cost of Goods Sold & Cash Budgeting.” This assignment is worth 80 points and will be graded according to the following scoring guide. Scoring Guide (80 Points) Rating Scale 8 Work meets or exceeds criterion at a high level of competence. 7 Work reflects an understanding of criterion with minor misunderstandings/misconceptions. 6 Criterion partially met, but one or more important concepts/skills are missing or flawed. 5-4 Work reflects an attempt to meet criterion, but significant misunderstandings/misconceptions are apparent. 3-0 Criterion not met or work is absent. Criteria – Problem 6 1. Net dollar......

Words: 293 - Pages: 2

Fn 3000 Lp3 Assignment Cost of Goods Sold and Cash Budgeting

...FN 3000 LP3 Assignment Cost of Goods Sold And Cash Budgeting http://hwguiders.com/downloads/fn-3000-lp3-assignment-cost-of-goods-sold-and-cash-budgeting/ FN 3000 LP3 Assignment Cost of Goods Sold And Cash Budgeting Assignments: LP3 Assignment: Cost of Goods Sold & Cash Budgeting. This assignment will assess the competency 3. Construct financial forecasts for an organization. Directions: Chapter 4 – Problems 6, 11, 13, 24 These assigned problems are located in your Foundations of Financial Management textbook. Follow the instructions printed for each problem and submit this assignment in a Microsoft Excel or Word document. Submit this assignment to your instructor via the dropbox, “LP3: Assignment: Cost of Goods Sold & Cash Budgeting.” This assignment is worth 80 points and will be graded according to the following scoring guide. Scoring Guide (80 Points) Rating Scale 8 Work meets or exceeds criterion at a high level of competence. 7 Work reflects an understanding of criterion with minor misunderstandings/misconceptions. 6 Criterion partially met, but one or more important concepts/skills are missing or flawed. 5-4 Work reflects an attempt to meet criterion, but significant misunderstandings/misconceptions are apparent. 3-0 Criterion not met or work is absent. Criteria – Problem 6 1. Net dollar sales projection was calculated correctly. Criteria – Problem 11 2. Total cost of goods sold was calculated......

Words: 267 - Pages: 2

Fn 3000 Lp3 Assignment: Cost of Goods Sold & Cash Budgeting

...FN 3000 LP3 Assignment: Cost of Goods Sold & Cash Budgeting To Buy this Class Copy & paste below link in your Brower http://homeworkregency.com/downloads/fn-3000-lp3-assignment-cost-of-goods-sold-cash-budgeting/ Or Visit Our Website Visit : http://www.homeworkregency.com Email Us : homeworkregency@gmail.com FN 3000 LP3 Assignment: Cost of Goods Sold & Cash Budgeting Assignments LP3 Assignment: Cost of Goods Sold & Cash Budgeting This assignment will assess the competency 3. Construct financial forecasts for an organization. Directions: Chapter 4 – Problems 6, 11, 13, 24 These assigned problems are located in your Foundations of Financial Management textbook. Follow the instructions printed for each problem and submit this assignment in a Microsoft Excel or Word document. Submit this assignment to your instructor via the dropbox, “LP3: Assignment: Cost of Goods Sold & Cash Budgeting.” This assignment is worth 80 points and will be graded according to the following scoring guide. Scoring Guide (80 Points) Rating Scale 8 Work meets or exceeds criterion at a high level of competence. 7 Work reflects an understanding of criterion with minor misunderstandings/misconceptions. 6 Criterion partially met, but one or more important concepts/skills are missing or flawed. 5-4 Work reflects an attempt to meet criterion, but significant misunderstandings/misconceptions are apparent. 3-0 Criterion not met or work is absent. Criteria – Problem 6 1. Net dollar......

Words: 293 - Pages: 2

Fn 3000 Lp3 Assignment: Cost of Goods Sold & Cash Budgeting

...FN 3000 LP3 Assignment: Cost of Goods Sold & Cash Budgeting http://homeworkfy.com/downloads/fn-3000-lp3-assignment-cost-of-goods-sold-cash-budgeting/ To Get this Tutorial Copy & Paste above URL Into Your Browser Hit Us Email for Any Inquiry at: Homeworkfy@gmail.com Visit our Site for More Tutorials: (http://homeworkfy.com/ ) Assignments LP3 Assignment: Cost of Goods Sold & Cash Budgeting This assignment will assess the competency 3. Construct financial forecasts for an organization. Directions: Chapter 4 – Problems 6, 11, 13, 24 These assigned problems are located in your Foundations of Financial Management textbook. Follow the instructions printed for each problem and submit this assignment in a Microsoft Excel or Word document. Submit this assignment to your instructor via the dropbox, “LP3: Assignment: Cost of Goods Sold & Cash Budgeting.” This assignment is worth 80 points and will be graded according to the following scoring guide. Scoring Guide (80 Points) Rating Scale 8 Work meets or exceeds criterion at a high level of competence. 7 Work reflects an understanding of criterion with minor misunderstandings/misconceptions. 6 Criterion partially met, but one or more important concepts/skills are missing or flawed. 5-4 Work reflects an attempt to meet criterion, but significant misunderstandings/misconceptions are apparent. 3-0 Criterion not met or work is absent. Criteria – Problem 6 1. Net dollar sales projection was calculated correctly. Criteria...

Words: 284 - Pages: 2

Fn 3000 Lp3 Assignment Cost of Goods Sold and Cash Budgeting

...FN 3000 LP3 Assignment Cost of Goods Sold And Cash Budgeting http://hwguiders.com/downloads/fn-3000-lp3-assignment-cost-of-goods-sold-and-cash-budgeting/ FN 3000 LP3 Assignment Cost of Goods Sold And Cash Budgeting Assignments: LP3 Assignment: Cost of Goods Sold & Cash Budgeting. This assignment will assess the competency 3. Construct financial forecasts for an organization. Directions: Chapter 4 – Problems 6, 11, 13, 24 These assigned problems are located in your Foundations of Financial Management textbook. Follow the instructions printed for each problem and submit this assignment in a Microsoft Excel or Word document. Submit this assignment to your instructor via the dropbox, “LP3: Assignment: Cost of Goods Sold & Cash Budgeting.” This assignment is worth 80 points and will be graded according to the following scoring guide. Scoring Guide (80 Points) Rating Scale 8 Work meets or exceeds criterion at a high level of competence. 7 Work reflects an understanding of criterion with minor misunderstandings/misconceptions. 6 Criterion partially met, but one or more important concepts/skills are missing or flawed. 5-4 Work reflects an attempt to meet criterion, but significant misunderstandings/misconceptions are apparent. 3-0 Criterion not met or work is absent. Criteria – Problem 6 1. Net dollar sales projection was calculated correctly. Criteria – Problem 11 2. Total cost of goods sold was calculated......

Words: 267 - Pages: 2

Acct504 Week 6 Case Study 3 Cash Budgeting Lbj Company

...ACCT504 Week 6 Case Study 3 Cash Budgeting LBJ Company Click Link Below To Buy: http://hwcampus.com/shop/acct-504/acct-504-week-6-case-study-3-cash-budgeting-lbj-company/ Or Visit www.hwcampus.com ACCT504 Case Study 3 on Cash Budgeting The cash budget was covered during Week 4 when we covered TCO D and you read Chapter 7. There is also a practice case study to work on. Your Professor will provide the solution to the practice case study at the end of Week 5. This case study should be uploaded by 11:59PM Mountain time of the Sunday ending Week 6 to the Week 6 Assignment Dropbox. You are encouraged to use the Excel template file provided in Doc Sharing. The LBJ Company has budgeted sales revenues as follows: April May June Credit sales $94,000 $89,500 $75,000 Cash sales 48,000 75,000 57,000 Total sales $142,000 $164,500 $132,000 Past experience indicates that 30% of the credit sales will be collected in the month of sale and the remaining 70% will be collected in the following month. Purchases of inventory are all on credit and 40% is paid in the month of purchase and 60% in the month following purchase. Budgeted inventory purchases are $195,000 in April, $135,000 in May, and $63,000 in June. Other budgeted cash receipts: (a) sale of plant assets for $33,000 in May, and (b) sale of new common stock for $50,000 in June. Other budgeted cash disbursements: (a) operating expenses of $15,000 each month, (b) selling and administrative expenses of $10,150 each...

Words: 474 - Pages: 2

Fn 3000 Lp3 Assignment Cost of Goods Sold and Cash Budgeting

...FN 3000 LP3 Assignment Cost of Goods Sold And Cash Budgeting http://hwguiders.com/downloads/fn-3000-lp3-assignment-cost-of-goods-sold-and-cash-budgeting/ FN 3000 LP3 Assignment Cost of Goods Sold And Cash Budgeting Assignments: LP3 Assignment: Cost of Goods Sold & Cash Budgeting. This assignment will assess the competency 3. Construct financial forecasts for an organization. Directions: Chapter 4 – Problems 6, 11, 13, 24 These assigned problems are located in your Foundations of Financial Management textbook. Follow the instructions printed for each problem and submit this assignment in a Microsoft Excel or Word document. Submit this assignment to your instructor via the dropbox, “LP3: Assignment: Cost of Goods Sold & Cash Budgeting.” This assignment is worth 80 points and will be graded according to the following scoring guide. Scoring Guide (80 Points) Rating Scale 8 Work meets or exceeds criterion at a high level of competence. 7 Work reflects an understanding of criterion with minor misunderstandings/misconceptions. 6 Criterion partially met, but one or more important concepts/skills are missing or flawed. 5-4 Work reflects an attempt to meet criterion, but significant misunderstandings/misconceptions are apparent. 3-0 Criterion not met or work is absent. Criteria – Problem 6 1. Net dollar sales projection was calculated correctly. Criteria – Problem 11 2. Total cost of goods sold was calculated......

Words: 267 - Pages: 2

Acct504 Week 6 Case Study 3 Cash Budgeting Lbj Company

...ACCT504 Week 6 Case Study 3 Cash Budgeting LBJ Company Click Link Below To Buy: http://hwcampus.com/shop/acct-504/acct-504-week-6-case-study-3-cash-budgeting-lbj-company/ Or Visit www.hwcampus.com ACCT504 Case Study 3 on Cash Budgeting The cash budget was covered during Week 4 when we covered TCO D and you read Chapter 7. There is also a practice case study to work on. Your Professor will provide the solution to the practice case study at the end of Week 5. This case study should be uploaded by 11:59PM Mountain time of the Sunday ending Week 6 to the Week 6 Assignment Dropbox. You are encouraged to use the Excel template file provided in Doc Sharing. The LBJ Company has budgeted sales revenues as follows: April May June Credit sales $94,000 $89,500 $75,000 Cash sales 48,000 75,000 57,000 Total sales $142,000 $164,500 $132,000 Past experience indicates that 30% of the credit sales will be collected in the month of sale and the remaining 70% will be collected in the following month. Purchases of inventory are all on credit and 40% is paid in the month of purchase and 60% in the month following purchase. Budgeted inventory purchases are $195,000 in April, $135,000 in May, and $63,000 in June. Other budgeted cash receipts: (a) sale of plant assets for $33,000 in May, and (b) sale of new common stock for $50,000 in June. Other budgeted cash disbursements: (a) operating expenses of $15,000 each month, (b) selling and administrative expenses of $10,150 each...

Words: 474 - Pages: 2

Acct504 Week 6 Case Study 3 Cash Budgeting Lbj Company

...ACCT504 Week 6 Case Study 3 Cash Budgeting LBJ Company Click Link Below To Buy: http://hwcampus.com/shop/acct-504/acct-504-week-6-case-study-3-cash-budgeting-lbj-company/ Or Visit www.hwcampus.com ACCT504 Case Study 3 on Cash Budgeting The cash budget was covered during Week 4 when we covered TCO D and you read Chapter 7. There is also a practice case study to work on. Your Professor will provide the solution to the practice case study at the end of Week 5. This case study should be uploaded by 11:59PM Mountain time of the Sunday ending Week 6 to the Week 6 Assignment Dropbox. You are encouraged to use the Excel template file provided in Doc Sharing. The LBJ Company has budgeted sales revenues as follows: April May June Credit sales $94,000 $89,500 $75,000 Cash sales 48,000 75,000 57,000 Total sales $142,000 $164,500 $132,000 Past experience indicates that 30% of the credit sales will be collected in the month of sale and the remaining 70% will be collected in the following month. Purchases of inventory are all on credit and 40% is paid in the month of purchase and 60% in the month following purchase. Budgeted inventory purchases are $195,000 in April, $135,000 in May, and $63,000 in June. Other budgeted cash receipts: (a) sale of plant assets for $33,000 in May, and (b) sale of new common stock for $50,000 in June. Other budgeted cash disbursements: (a) operating expenses of $15,000 each month, (b) selling and administrative expenses of $10,150 each...

Words: 474 - Pages: 2

Acct504 Week 6 Case Study 3 Cash Budgeting Lbj Company

...ACCT504 Week 6 Case Study 3 Cash Budgeting LBJ Company Click Link Below To Buy: http://hwcampus.com/shop/acct-504/acct-504-week-6-case-study-3-cash-budgeting-lbj-company/ Or Visit www.hwcampus.com ACCT504 Case Study 3 on Cash Budgeting The cash budget was covered during Week 4 when we covered TCO D and you read Chapter 7. There is also a practice case study to work on. Your Professor will provide the solution to the practice case study at the end of Week 5. This case study should be uploaded by 11:59PM Mountain time of the Sunday ending Week 6 to the Week 6 Assignment Dropbox. You are encouraged to use the Excel template file provided in Doc Sharing. The LBJ Company has budgeted sales revenues as follows: April May June Credit sales $94,000 $89,500 $75,000 Cash sales 48,000 75,000 57,000 Total sales $142,000 $164,500 $132,000 Past experience indicates that 30% of the credit sales will be collected in the month of sale and the remaining 70% will be collected in the following month. Purchases of inventory are all on credit and 40% is paid in the month of purchase and 60% in the month following purchase. Budgeted inventory purchases are $195,000 in April, $135,000 in May, and $63,000 in June. Other budgeted cash receipts: (a) sale of plant assets for $33,000 in May, and (b) sale of new common stock for $50,000 in June. Other budgeted cash disbursements: (a) operating expenses of $15,000 each month, (b) selling and administrative expenses of $10,150 each...

Words: 474 - Pages: 2

Air Camera- Photo Editor, Collage, Filter | Captain Earth | épisode 2