8-3 and 8-7 Exercises 8-1, 8-2, 8-3, 8-7 newconnect.mheducation.com/flow/connect.html 3-1,8-2, 8-3, 8-7 6 Pалes Garden Depot Is a retaller that is preparing Its budget for the upcoming fiscal year. Management has prepared the following summary of Its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $ 440,008 $ 342,800 $ 320,000 $ 372,000 $ 370,000 $ 332,000 $ 398,000 $ 352,000 The company's beginning cash balance for the upcoming fiscal year will be $27,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterty Interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay Its loans, or any part of Its loans, at the end of any quarter. Interest payments are due on any principal at the time It Is repaid. For simplicity, assume that Interest Is not compounded. Requlred: Prepare the company's cash budget for the upcoming fiscal year. (Cash deficlency, repayments and Interest should be Indicated by a mlnus sign.) Garden Depot Cash Budget 1st Quarter|2nd Quarter 3rd Quarter 4th Quarter Year Beginning cash balance Total cash receipts Total cash available 10, Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Interest Total financing Ending cash balance Prey 4 of Next here to search hp 144 & 8 т %24
8-3 and 8-7 Exercises 8-1, 8-2, 8-3, 8-7 newconnect.mheducation.com/flow/connect.html 3-1,8-2, 8-3, 8-7 6 Pалes Garden Depot Is a retaller that is preparing Its budget for the upcoming fiscal year. Management has prepared the following summary of Its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $ 440,008 $ 342,800 $ 320,000 $ 372,000 $ 370,000 $ 332,000 $ 398,000 $ 352,000 The company's beginning cash balance for the upcoming fiscal year will be $27,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterty Interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay Its loans, or any part of Its loans, at the end of any quarter. Interest payments are due on any principal at the time It Is repaid. For simplicity, assume that Interest Is not compounded. Requlred: Prepare the company's cash budget for the upcoming fiscal year. (Cash deficlency, repayments and Interest should be Indicated by a mlnus sign.) Garden Depot Cash Budget 1st Quarter|2nd Quarter 3rd Quarter 4th Quarter Year Beginning cash balance Total cash receipts Total cash available 10, Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Interest Total financing Ending cash balance Prey 4 of Next here to search hp 144 & 8 т %24
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:8-3 and 8-7
Exercises 8-1, 8-2, 8-3, 8-7
newconnect.mheducation.com/flow/connect.html
3-1,8-2, 8-3, 8-7 6
Pалes
Garden Depot Is a retaller that is preparing Its budget for the upcoming fiscal year. Management has prepared the following summary
of Its budgeted cash flows:
Total cash receipts
Total cash disbursements
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
$ 440,008
$ 342,800
$ 320,000
$ 372,000
$ 370,000
$ 332,000
$ 398,000
$ 352,000
The company's beginning cash balance for the upcoming fiscal year will be $27,000. The company requires a minimum cash balance
of $10,000 and may borrow any amount needed from a local bank at a quarterty Interest rate of 3%. The company may borrow any
amount at the beginning of any quarter and may repay Its loans, or any part of Its loans, at the end of any quarter. Interest payments
are due on any principal at the time It Is repaid. For simplicity, assume that Interest Is not compounded.
Requlred:
Prepare the company's cash budget for the upcoming fiscal year. (Cash deficlency, repayments and Interest should be Indicated by a
mlnus sign.)
Garden Depot
Cash Budget
1st Quarter|2nd Quarter 3rd Quarter 4th Quarter
Year
Beginning cash balance
Total cash receipts
Total cash available
10,
Total cash disbursements
Excess (deficiency) of cash available over disbursements
Financing:
Borrowings
Repayments
Interest
Total financing
Ending cash balance
Prey
4 of
Next
here to search
hp
144
&
8
т
%24
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