The accountant for Waltons Dress Shop prepared the following cash budget. Waltons desires to maintain a cash
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Question:
The accountant for Waltons Dress Shop prepared the following cash budget. Waltons desires to maintain a cash balance of $22,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 2 percent per month.
Required
- Complete the cash budget by filling in the missing amounts.
- Determine the amount of net cash flows from operating activities Waltons will report on the third quarter pro forma statement of cash flows.
- Determine the amount of net cash flows from financing activities Waltons will report on the third quarter pro forma statement of cash flows.
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078025655
7th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
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