Draft a quarterly cash budget for Zoo Extravaganza (ZE) for the first two quarters of the coming

Question:

Draft a quarterly cash budget for Zoo Extravaganza (ZE) for the first two quarters of the coming year. Use just the information in this problem. 

image

You know from past experience that not all of your revenue and support is collected when you earn it. Cash contributions are collected in the quarter they are pledged. Federal government grants are collected one quarter after you send the granting agency a bill. The city pays 25 percent of what it owes you one quarter after you send in the bill. An additional 25 percent is collected from the city in two quarters and the remaining 50 percent takes three quarters to collect. Starting with the revenue budget above, calculate the amount you can expect to collect in the fourth quarter of the coming fiscal year.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Management for Public, Health and Not-for-Profit Organizations

ISBN: 978-1506326849

5th edition

Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell

Question Posted: