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, beginningAdd collections from customersTotal cash availableLess disbursements:Quarter (000 omitted)(000 omitted)1234Year6$4 $4$46Assessment Tool iFrame639610810436969100112108375Purchase of inventory47Selling and administrative expenses1553057513118632302198Equipment purchases109221051Dividends22228Total disbursementsExcess (deficiency) of cash available over disbursements7410010564343(5)(1)74432Financing:BorrowingsRepayments (including interest) *Total financing9614(2)(13)(15)96(2)(13)(1)Cash balance, ending$4$4$EA53131*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 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) 1 2 3 4 Year Cash balance, beginning $ 6 $ 4 $ 4 $ 4 $ 6 Assessment Tool iFrame Add collections from customers 63 96 108 104 369 Total cash available 69 100 112 108 375 Less disbursements: Purchase of inventory 47 57 51 31 186 Selling and administrative expenses 15 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 (5) (1) 38 105 64 343 7 44 32 Financing: Borrowings Repayments (including interest)* 9 6 14 (2) (13) (15) Total financing 9 6 (2) (13) (1) Cash balance, ending $ 4 $ 4 $ 5 $ 31 $ 31 *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 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) 1 2 3 4 Year Cash balance, beginning $ 6 $ 4 $ 4 $ 4 $ 6 Assessment Tool iFrame Add collections from customers 63 96 108 104 369 Total cash available 69 100 112 108 375 Less disbursements: Purchase of inventory 47 57 51 31 186 Selling and administrative expenses 15 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 (5) (1) 38 105 64 343 7 44 32 Financing: Borrowings Repayments (including interest)* 9 6 14 (2) (13) (15) Total financing 9 6 (2) (13) (1) Cash balance, ending $ 4 $ 4 $ 5 $ 31 $ 31 *Interest will total $1,000 for the year.

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. 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. $ 1 6 69 47 10 2 (5) Quarter (000 omitted) 2 3 57 32 9 2 100 6 108 30 22 2 7 4 31 2 (13) (000 omitted) Year 369 98 51
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! Required information [The following information applies to the questions displayed below.] Built-Tight is preparing its master budget. Budgeted sales and cash payments follow: July $ 56,000 August $ 72,000 September $ 56,000 Budgeted sales Budgeted cash payments for Direct materials 15,560 3,440 19,600 12,840 2,760 16,200 13,160 2,840 16,600 Direct labor Overhead Sales to customers are 20% cash and 80% on credit. Sales in June were $53,500. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $47,000 in cash and $4,400 in loans payable. A minimum cash balance of $47,000 is required. Loans are obtained at the end of any month when the preliminary cash balance is below $47,000. Interest is 1% per month based on the beginning-of-the-month loan balance and is paid at each month-end. Any preliminary cash balance above $47,000 is used to repay loans at month-end. Expenses are paid in the month incurred and consist of sales…
The fourth option is $16,600 needed, below $12,400 available.
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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 $8,000 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: 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. $ 1 S 70 42 14 2 (8) Quarter (000 omitted) 2 3 52 32 8 2 94 10 103 30 17 2 14 4 34 2 (21) (000 omitted) Year 347 103 49
A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of $7,000 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) 4 (000 omitted) Year 1 2 Cash balance, beginning $ 7 Add collections from customers 105 378 Total cash available 91 Less disbursements: Purchase of inventory 44 54 28 Selling and administrative expenses 32 30 124 Equipment purchases 8 8 19 45 Dividends 2 2 2 2 Total disbursements Excess (deficiency) of cash available over disbursements 96 (2) 12 Financing: Borrowings Repayments (including interest) Total financing Cash balance, ending "Interest will total $1,000 for the year. 8 (13)