A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires
Question:
A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $5,000 to start each quarter.
Required:
Fill in the missing amounts in the above table.
Transcribed Image Text:
Quarter Year Cash balance, beginning... $ 6 $ ? $ ? $ ? 323 Add collections from customers. 96 Total cash available.. 71 Less disbursements: Purchase of inventory.. Operating expenses. Equipment purchases. Dividends.. 35 35 45 30 30 113 10 36 Total disbursements.. 85 Excess (deficiency) of cash available 11 over disbursements Financing: Borrowings ..... Repayments (including interest)* 15 (?) (17) (?) Total financing $ ? $ ? $ ? Cash balance, ending ... *Interest will total $1,000 for the year.
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Quarter 000 omitted 1 2 3 4 Year Cash balance beginning 6 5 5 ...View the full answer
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Related Book For
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
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