A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of$4,000 to start each quarter.Required:Fill in the missing amounts.Note: Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign.Quarter (000 omitted)23(000 omitted)YearCash balance, beginning$$5 $$$6Add collections from customers6395108369Total cash available69100375Less disbursements:Purchase of inventory475731Selling and administrative expenses15323098Equipment purchases1092251DividendsTotal disbursementsExcess (deficiency) of cash available over disbursementsFinancing:BorrowingsRepayments (including interest)*Total financing222274100(5)(13)Cash balance, ending$"Interest will total $1,000 for the year.

The company creates a cash budget to project cash inflows and outflows. This helps them forecast if…

A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of $4,000 to start each quarter. Required: Fill in the missing amounts. Note: Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign. Quarter (000 omitted) (000 omitted) Year 2 3 Cash balance, beginning $ $ 5 $ Add collections from customers 63 95 108 Total cash available 69 100 Less disbursements: 369 375 Purchase of inventory 47 57 31 Selling and administrative expenses 15 32 30 98 Equipment purchases 10 9 22 51 Dividends Total disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings 2 2 2 74 100 (5) Repayments (including interest) Total financing Cash balance, ending (13)

A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of $4,000 to start each quarter. Required: Fill in the missing amounts. Note: Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign. Quarter (000 omitted) (000 omitted) Year 2 3 Cash balance, beginning $ $ 5 $ Add collections from customers 63 95 108 Total cash available 69 100 Less disbursements: 369 375 Purchase of inventory 47 57 31 Selling and administrative expenses 15 32 30 98 Equipment purchases 10 9 22 51 Dividends Total disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings 2 2 2 74 100 (5) Repayments (including interest) Total financing Cash balance, ending (13)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $4,000 to start each quarter. Fill in the missing amounts. Note: Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign. Quarter (000 omitted) (000 omitted) 1 2 3 4 Year Cash balance, beginning $ 7 Add collections from customers 109 392 Total cash available 89 Less disbursements: * Purchase of inventory 48 58 32 Selling and administrative expenses 45 30 127 Equipment purchases 11 9 23 53 Dividends 2 2 2 2 Total disbursements 114 Excess (deficiency) of cash available over disbursements (2) 7 Financing: Borrowings Repayments (including interest) * Total financing Cash balance, ending "Interest will total $1,000 for the year. 18 (22)
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A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $3,000 to start each quarter. Required: Fill in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign.) Cash balance, beginning Add collections from customers Total cash available Less disbursements: Purchase of inventory Selling and administrative expenses Equipment purchases Dividends Total disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments (including interest)* Total financing Cash balance, ending *Interest will total $1,000 for the year. Quarter 1 (000 omitted) $ 9 97 54 7 2 (5) Quarter 2 (000 omitted) 64 45 9 2 120 12 Quarter 3 (000 omitted) 124 30 29 2 12 Quarter 4 (000 omitted) 30 2 (12) Year (000 omitted) 431 137 55
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