Prepare Cash Budget For 3 Months Brewster Corporation expects the following cash receipts and disbursements during...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Prepare Cash Budget For 3 Months Brewster Corporation expects the following cash receipts and disbursements during the first quarter of the year (receipts exclude new borrowings and disbursements exclude interest payments on borrowings since January 1) Cash receipts January February March $350,000 $370,000 $340,000 Cash disbursements 330,000 410,000 350,000 The expected cash balance at January 1, is $132,000. Brewster wants to maintain a cash balance at the end of each month of at least $130,000. Short-term borrowings at 1% interest per month will be used to accomplish this, if necessary. Borrowings (in multiples of $1,000) will be made at the beginning of the month in which they are needed, with interest for that month paid at the end of the month. Prepare a cash budget for the quarter ended March 31. Brewster Corporation Cash Budget for the Quarter Ended March 31 January February March Beginning cash balance $ 132000 $ 152000 $ Cash receipts 350000 370,000 Short-term borrowings Cash available $ 482000 $ $ Cash disbursements $ 330000 $ $ Interest payment Total cash disbursements 330000 Ending cash balance $ 152000 $ $ Prepare Cash Budget For 3 Months Brewster Corporation expects the following cash receipts and disbursements during the first quarter of the year (receipts exclude new borrowings and disbursements exclude interest payments on borrowings since January 1) Cash receipts January February March $350,000 $370,000 $340,000 Cash disbursements 330,000 410,000 350,000 The expected cash balance at January 1, is $132,000. Brewster wants to maintain a cash balance at the end of each month of at least $130,000. Short-term borrowings at 1% interest per month will be used to accomplish this, if necessary. Borrowings (in multiples of $1,000) will be made at the beginning of the month in which they are needed, with interest for that month paid at the end of the month. Prepare a cash budget for the quarter ended March 31. Brewster Corporation Cash Budget for the Quarter Ended March 31 January February March Beginning cash balance $ 132000 $ 152000 $ Cash receipts 350000 370,000 Short-term borrowings Cash available $ 482000 $ $ Cash disbursements $ 330000 $ $ Interest payment Total cash disbursements 330000 Ending cash balance $ 152000 $ $
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
The potential losses are sorted in the following table. The absolute VaR is 8 Million. What is the relative expected shortfall from the mean? Sorted returns Returns ( Million) -12 -10 -8 -6 -4 -3 -1.5
-
Bulldog, Inc. has sold Australian dollar put options at a premium of $.01 per unit, and an exercise price of $.76 per unit. It has forecasted the Australian dollars lowest level over the period of...
-
Using the following data regarding clothing inventory, determine the value of the inventory at the lower of cost and NRV. Complete the calculation on an individual basis for model numbers 236, 238,...
-
Common-Size Income Statement A partial common-size income statement for Jag Company for three years is shown below. Did Jag's net income as a percentage of net sales increase, remain the same, or...
-
Scholes Systems supplies a particular type of office chair to large retailers such as Target, Costco, and Office Max. Scholes is concerned about the possible effects of inflation on its operations....
-
Mr. Atkinson, a 65-year-old patient with end-stage lung cancer, presents to the emergency room complaining of shortness of breath. An evaluation reveals that he has COVID-19. Mr. Atkinson's condition...
-
Levittown Company employs a process cost system for its manufacturing operations. All direct materials are added at the beginning of the process and conversion costs are added proportionately....
-
The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: Units to be produced 1st Quarter 2nd Quarter 3rd...
-
3 For the function f(x) = x+7, find f(x). 5
-
Edgenuity Solving Algebraically for Unknown Values n Find the values of x and y that make k||j and m || n. qvious Activity m Intro (x-30) x= (x+50) y= 6 of 8 Done Next Actroly
-
(f+g)(x) (f-g)(x) Let f(x)=6x+5 and g(x) = 4x 7. Find (f + g)(x).(f g)(x), (tg)(x), and () (x). Give the domain of each. (fg)(x) = (4)(x)- The damain of f+gis (Type your answer in interval notation.)...
-
On January 1, 2023, MWM Corporation issued a series of 100 convertible bonds, maturing in 5 years. The face amount of each bond was $500. MWM received $51,400 for the bond issue. The bonds paid...
-
You must know your desired "rate of return" to use the Capitalization of Earnings method. Is it true or false?
-
In Exercises 1558, find each product. (9 - 5x) 2
-
Certain operating information is shown below for Palmer Department Store: The managers are disappointed with the operating results of department A. They do not believe that competition will permit...
-
Perkins Appliance & Furniture Company has two departments, appliances and furniture. Operating information for 2016 appears below. Common operating expenses of the firm were \($180,000\) . Required...
-
The cutting department of Liberty Manufacturing Company operated during September 2016 with the following manufacturing overhead cost budget based on 6,000 hours of monthly productive capacity: The...
Study smarter with the SolutionInn App