A cash budget, by quarters, is given below for a retail company (000 omitted). The company...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $8,000 to start each quarter. Fill in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign.) Quarter 1 (000 omitted) (000 omitted) (000 omitted) (000 omitted) Quarter 2 Quarter 3 Quarter 4 Year (000 omitted) Cash balance, beginning 7 Add collections from customers 97 335 Total cash available 80 Less disbursements: Purchase of inventory 36 46 28 Selling and administrative expenses 30 30 117 Equipment purchases 10 11 38 Dividends 2 2 88 Total disbursements Excess (deficiency) of cash available over disbursements (2) 17 Financing 16 Borrowings Add collections from customers Total cash available 971 335 80 Less disbursements: Purchase of inventory 36 46 28 Selling and administrative expenses 30 30 117 Equipment purchases 10 11 38 Dividends 2 2 Total disbursements 88 Excess (deficiency) of cash available over disbursements (2) 17 Financing Borrowings 16 Repayments (including interest)* (18) Total financing Cash balance, ending "Interest will total $1.000 for the year. A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $8,000 to start each quarter. Fill in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign.) Quarter 1 (000 omitted) (000 omitted) (000 omitted) (000 omitted) Quarter 2 Quarter 3 Quarter 4 Year (000 omitted) Cash balance, beginning 7 Add collections from customers 97 335 Total cash available 80 Less disbursements: Purchase of inventory 36 46 28 Selling and administrative expenses 30 30 117 Equipment purchases 10 11 38 Dividends 2 2 88 Total disbursements Excess (deficiency) of cash available over disbursements (2) 17 Financing 16 Borrowings Add collections from customers Total cash available 971 335 80 Less disbursements: Purchase of inventory 36 46 28 Selling and administrative expenses 30 30 117 Equipment purchases 10 11 38 Dividends 2 2 Total disbursements 88 Excess (deficiency) of cash available over disbursements (2) 17 Financing Borrowings 16 Repayments (including interest)* (18) Total financing Cash balance, ending "Interest will total $1.000 for the year.
Expert Answer:
Answer rating: 100% (QA)
Minimum Cash Balance 8 Ommittes 000 Quarter000 Omitted 2 3 ... View the full answer
Related Book For
Managerial accounting
ISBN: 9780073526706
12th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Posted Date:
Students also viewed these accounting questions
-
You have an opportunity to make a very large profit if only you can raise $1,000,000 for new equipment for your manufacturing plant in England. Time is critical as your competition is trying to do...
-
A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of $5,000 to start each quarter. Required: Fill in the missing amounts in...
-
A cash budget, by quarter, is given below for a retail company (000 omitted). The company requires a minimum cash balance of $5,000 to start each quarter. Required: Fill in the missing amounts in the...
-
Concentric shells r = 20 cm and r = 30 cm are held at V = 0 and V = 50, respectively. If the space between them is filled with dielectric material ( = 3.10, a = 1012 S/m), find: (a) V, E, and D, (b)...
-
a. Propose a straight-line model relating math score (y) to percentage (x) of students below the poverty level. b. Use the method of least squares to fit the model to the data in the FCAT file. c....
-
What is a dishonored note receivable?
-
Why are grooming and attire so important in selling? How do you know if you are dressed appropriately for a customer?
-
Phap Company uses a standard cost accounting system. During January, the company reported the following manufacturing variances. In addition, 8,000 units of product were sold at $8.00 per unit. Each...
-
Nora Incorporated sells a single product for $22. Variable costs include $8.58 for each unit plus a 8% sales commission. Fixed costs are $155,290 per month. Required: a. What is the contribution...
-
b. Prepare all consolidating entries needed to prepare consolidated statements for 20X5. (If no entry is required for a transaction/event, select "No journal entry required" in the first account...
-
Describe quasi-structured data and provide one example.
-
Please enter answer using only numbers without $symbol or punctuation (i.e. 500000). Answer questions 1-4 using the following information: Arden Company reported the following costs and expenses for...
-
Relationships change us. Through relationships, we learn about ourselves. Using the Jo-Hari Window, how has Fred changed since meeting the Sheikh? Explore how his blind and unknown panes have been...
-
Suppose you need to buy 6 tons of Italian olives in 6 months for a fixed price contract (your sales quote is in USD). 6 tons of Italian olives currently costs 80,000euro. The current exchange rate is...
-
In 1949, the city of Sherbrooke, Quebec, built a hospital for about $500,000. In 1987, the city restored its courthouse for about $2.4 million. A price index for nonresidential construction was 14 in...
-
Examine the evolving standards of what constitutes a FAPE from the passage of the Education for All Handicapped Children Act (EAHCA) in 1975, to the Supreme Court's decision in Board of Education v....
-
Stacie, who has a mass of 45 kg, starts down a slide that is inclined at an angle of 45 0 with the horizontal. If the coefficient of kinetic friction between Stacie's shorts and the slide is 0.25,...
-
Write the general quadratic equation y2 - 8y - 4x + 28 = 0 in standard form. Determine the vertex, focus, and directrix of the parabola defined by this equation. Sketch a graph.
-
What is meant by the term break-even point?
-
Refer to the data for Sebolt Wire Company in Problem 5-18. Required: 1. Using the least-squares regression method, estimate a cost formula for power cost. (Round the variable cost to the nearest cent...
-
How does Lean Production reduce or eliminate the difference in reported net operating income between absorption and variable costing?
-
Why do most programs use interrupt-driven I/O over busy/wait?
-
Write a simple loop that lets you exercise the cache. By changing the number of statements in the loop body, you can vary the cache hit rate of the loop as it executes. If your microprocessor fetches...
-
Why do most computer systems use memory-mapped I/O?
Smart Money Habits 101 A Guide To Become Financially Free 1st Edition - ISBN: B0CQXZF67K - Free Book
Study smarter with the SolutionInn App