Check my workA cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of atleast $3,000 to start each quarter. Fill in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies andRepayments should be indicated by a minus sign.)Quarter 1 Quarter 2(000 omitted) (000 omitted)8Quarter 3(000 omitted)Quarter 4(000 omitted)Year (000omitted)Cash balance, beginning$Add collections from customers120Total cash available92Less disbursements:Purchase of inventory536329Selling and administrative expenses4530Equipment purchases828Dividends2Total disbursementsExcess (deficiency) of cash available over disbursements(1)Financing:BorrowingsRepayments (including interest)*Total financingCash balance, ending*Interest will total $1,000 for the year.9211913292(12)42012755

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. Fill in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign.) Quarter 1 (000 omitted) Quarter 2 Quarter 3 (000 omitted) (000 omitted) Quarter 4 Year (000 (000 omitted) omitted) Cash balance, beginning S 8 Add collections from customers 120 Total cash available 92 Less disbursements: 53 63 29 45 Purchase of inventory Selling and administrative expenses Equipment purchases Dividends Total disbursements Excess (deficiency) of cash available over disbursements Fingering 8 2 (1) 9 2 119 30 28 2 9 2 420 127 55

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. Fill in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign.) Quarter 1 (000 omitted) Quarter 2 Quarter 3 (000 omitted) (000 omitted) Quarter 4 Year (000 (000 omitted) omitted) Cash balance, beginning S 8 Add collections from customers 120 Total cash available 92 Less disbursements: 53 63 29 45 Purchase of inventory Selling and administrative expenses Equipment purchases Dividends Total disbursements Excess (deficiency) of cash available over disbursements Fingering 8 2 (1) 9 2 119 30 28 2 9 2 420 127 55

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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The cash budget for the first three quarters of the company is given below (000 omitted). The company requires a minimum cash balance of $5,000 to start each quarter. If necessary, the company will borrow money from its bank to maintain this balance. The company will pay no interest in Quarters 1, 2, and 3. It will repay as much of its borrowings as possible as soon as it has more than $5,000 in cash in a given quarter. Suppose the company starts the first quarter with no bank debt. How much total bank debt does the company expect to have at the end of the third quarter? Cash Budget Quarter (000 omitted) 1 2 3 Cash balance, beginning $9 ? Add collections from customers 88 126 Total cash available ? ? Less disbursements: Purchase of inventory 65 Selling and administrative expenses 45 Equipment purchases 10 Dividends Total disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Total financing Cash balance, ending 55 41 7 2 ? ? ? ? ? ? 2…
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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 $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. Cash balance, beginning Add collections from customers Total cash available Less disbursements: Quarter (000 omitted) (000 omitted) 1 2 3 4 Year 6 $ 4 $ 4 $ 4 6 Assessment Tool iFrame 63 96 108 104 369 69 100 112 108 375 Purchase of inventory 47 Selling and administrative expenses 15 530 57 51 31 186 32 30 21 98 Equipment purchases 10 9 22 10 51 Dividends 2 2 2 2 8 Total disbursements Excess (deficiency) of cash available over disbursements 74 100 105 64 343 (5) (1) 7 44 32 Financing: Borrowings Repayments (including interest) * Total financing 9 6 14 (2) (13) (15) 9 6 (2) (13) (1) Cash balance, ending $ 4 $ 4 $ EA 5 31 31 *Interest will total $1,000 for the year.
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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)
The company provides the following information regarding the cash budget for next year: Quarter 1 Quarter 2 Quarter 3 Quarter 4 Beginning cash balance $5,000 $5,000 $5,000 $5,000 Excess (Deficiency) ($3,000) $2,000 ($2,500) $1,000 The company's policy is to start each quarter with a cash balance of $5,000.The company has access to a line of credit in the amount of $50,000 for any short term borrowing needs and pays the loans off as quickly as possible.The company assumes the cash budget for the year will begins with no loans.What is the expected loan balance at the end of Quarter 2 (ignore interest)?