A145677 Beginning cash balance3 Required: Prepare monthly cash budgets for January, February, and March.KAYAK COMPANY800Jx Accessibility9 Total cash available10 Less: Cash payments for11 All items excluding interest12Interest on loan13 Total cash payments14 Preliminary cash balance1516 Ending cash balance17B18 Loan balance - Beginning of month19 Additional loan (loan repayment)20 Loan balance, end of month2122Cash BudgetJanuaryLoan balance0C$0February0$0DMarch$0E H13A56 January7 February8MarchaA3313fxKayak Company budgeted the following cash receipts (excluding cash receipts fromloans received) and cash payments (excluding cash payments for loan principal and3 interest payments) for the first three months of next year. (Click on the GradedWorksheet Tab below.)ВMinimum cash balance14 Monthly interest rate15 January 1 cash balanceCCash Receipts Cash payments$525,000$475,000400,000350,000450,000525,000Kayak requires a minimum cash balance of $30,000 at each month-end. Loans taken tomeet this requirement charge 1% interest per month, paid at each month-end. The10 interest is computed based on the beginning balance of the loan for the month. Anypreliminary cash balance above $30,000 is used to repay loans at month-end. Thecompany has a cash balance of $30,000 and a loan balance of $60,000 at January 1.$30,0001%$30,000$60,000D16 January 1 loan balance.1718 Required: Prepare monthly cash budgets for January, February, and March.19EFGH

Cash budget is a financial report that represents company's estimation of cash inflows and outflows…

Answered: 3 Required: Prepare monthly cash…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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CASH BUDGET 3. EEVEE CORP. prepared cash estimates for the next four months. developed for certain items: The following estimates were March P10,000 5,000 2,000 3,000 2,500 April P6,000 2,000 1,500 2,600 2,400 Мay P8,000 6,000 2,500 2,800 2,600 Item June Cash sales Credit sales Payroll Purchases Other expenses In February, credit sales totaled P9,000, and purchases totaled P5,000. January credit sales were P12,000. Accounts receivable collections amount to 30 % in the month after the sale and 60% in the second month after the sale; 10% of the receivables are never collected. Payroll and other expenses are paid in the month incurred. Seventy-five percent of the purchases are paid in the month incurred, and the remainder are paid in the following month. A P15,000 tax payment is due on June 15. The cash balance was P5,000 on March 1. month. P11,000 9,000 3,000 4,000 2,800 The company wants a minimum cash balance of P5,000 per REQUIREMENTS: (а) Prepare a cash budget for the four-month…
Castor Incorporated is preparing its master budget. Budgeted sales and cash payments for merchandise purchases for the next three months follow. April $ 30,000 June Budgeted Sales Cash payments for merchandise purchases May $ 42,000 $ 26,000 24,200 14,800 13,500 Sales are 80% cash and 20% on credit. Sales in March were $26,000. All credit sales are collected in the month following the sale. The March 31 balance sheet includes balances of $14,000 in cash and $4,000 in loans payable. A minimum cash balance of $14,000 is required. Loans are obtained at the end of any month when the preliminary cash balance is below $12,000. Interest is 1% per month based on the beginning-of-the-month loan balance and is paid at each month-end. If a preliminary cash balance above $12,000 at month-end exists, loans are repaid from the excess. Expenses are paid in the month incurred and include sales commissions (10% of sales), shipping (4% of sales), office salaries ($7,000 per month), and rent ($5,000 per…
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KAYAK COMPANYCash Budget JanuaryFebruaryMarchBeginning cash balance$30,000 $30,000 Add: Cash receipts525,000 400,000 450,000 Total cash available555,000 430,000 Less: Cash payments for All items excluding interest Interest on loan Total cash payments0 0 0 Preliminary cash balance Additional loan (loan repayment) Ending cash balance Loan balanceLoan balance - Beginning of month Additional loan (loan repayment) Loan balance, end of month$0 $0 $0
Problem 5 Prepare a cash budget by month for the month quarter ending September 30, 2009, from the following data obtained from the Peninsula Co. Support your solution with schedules of estimated receipts & payments. August P 16,000 150,000 120,000 18,000 2,000 July P 12,000 110.000 90,000 Operating Expenses 15,000 September P 18,000 120,000 110,000 16,000 Cash sales Credit sales Purchases Interest expense Credit are collected 50% in the month of sales. 40% in the month following, 8% in the second month following and 2% uncollectible. Credit sales for May and June are expected to be P100,000 and P90,000 respectively. Purchases of merchandise, all on account are paid 60% in the month of purchase and 40% in the month fallowing. Purchase for June are estimated at 80,000 are paid in the month incurred. Cash balance on June 30, 2009 is P27,000.
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Cash Budget Brindle Arts had the following Cash Budget for Quarter 1, 2022. The company requires a minimum cash balance of $ 50,000 Fill in the missing values: **If a cell has a value of 0, type the 0. A blank cell will be marked as incorrect. January February March Quarter 1 Beginning Cash balance $ 50,000 $ 166,756 $ 50,000 Add cash collections Total cash available $ 662,638 $ 673,643 $ 812,693 $ 1,931,075 Less total cash disbursements: Purchases $ 185,078 $ 189,439 Direct labor $ 86,875 $ 82,875 $ 249,750 Variable manufacturing OH $ 65,156 $ 62,156 $ 187,313 Fixed manufacturing OH $ 83,333 $ 83,333 Variable S&A $ 38,750 $ 43,750 $ 125,000 Fixed S&A $ 38,333 $ 38,333 Equipment $ 150,000 $…
Subject: acounting
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