A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash baland of at least $3,000 to start each quarter. Fill in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign.) Quarter (000 omitted) (000 omitted) 1. 3 4. Year Cash balance, beginning 2$ 9 Add collections from customers 88 124 431 Total cash available 97 Less disbursements: Purchase of inventory 54 64 30 Selling and administrative expenses 39 45 30 137 Equipment purchases 7 29 55 Dividends 2 Total disbursements 102 120 Excess (deficiency) of cash available over disbursements (5) 12 Financing: Borrowings 12 Repayments (including interest)" (12) Total financing Cash balance, ending *Interest will total $1,000 for the year.
A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash baland of at least $3,000 to start each quarter. Fill in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign.) Quarter (000 omitted) (000 omitted) 1. 3 4. Year Cash balance, beginning 2$ 9 Add collections from customers 88 124 431 Total cash available 97 Less disbursements: Purchase of inventory 54 64 30 Selling and administrative expenses 39 45 30 137 Equipment purchases 7 29 55 Dividends 2 Total disbursements 102 120 Excess (deficiency) of cash available over disbursements (5) 12 Financing: Borrowings 12 Repayments (including interest)" (12) Total financing Cash balance, ending *Interest will total $1,000 for the year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please help
Transcribed Image Text: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 (000 omitted)
(000 omitted)
4.
Year
Cash balance, beginning
24
Add collections from customers
88
124
431
Total cash available
97
Less disbursements:
Purchase of inventory
54
64
30
Selling and administrative expenses
39
45
30
137
Equipment purchases
7
9
29
55
Dividends
2
2
Total disbursements
102
120
Excess (deficiency) of cash available over
disbursements
(5)
12
Financing:
Borrowings
12
Repayments (including interest)*
(12)
Total financing
Cash balance, ending
*Interest will total $1,000 for the year.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education