A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of 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. Quarter (000 omitted) (000 omitted) 1 2 3 4 Year Cash balance, beginning $ 9 Add collections from customers 99 348 Total cash available 87 Less disbursements: Purchase of inventory 38 48 30 Selling and administrative expenses 30 30 121 Equipment purchases 10 10 13 43 Dividends 2 2 2 2 90 (2) 16 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. 14 (17)
A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of 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. Quarter (000 omitted) (000 omitted) 1 2 3 4 Year Cash balance, beginning $ 9 Add collections from customers 99 348 Total cash available 87 Less disbursements: Purchase of inventory 38 48 30 Selling and administrative expenses 30 30 121 Equipment purchases 10 10 13 43 Dividends 2 2 2 2 90 (2) 16 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. 14 (17)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Denger
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 $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.
Quarter (000 omitted)
1
2
3
4
(000 omitted)
Year
Cash balance, beginning
$
9
99
348
Add collections from customers
Total cash available
87
Less disbursements:
38
48
30
Purchase of inventory
30
30
121
Selling and administrative expenses
Equipment purchases
10
10
13
43
2
2
2
2
Dividends
90
Total disbursements
Excess (deficiency) of cash available over disbursements
(2)
16
Financing:
14
Borrowings
Repayments (including interest) *
Total financing
Cash balance, ending
*Interest will total $1,000 for the year.
(17)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
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