H8 A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of atleast $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 bya minus sign.)Cash balance, beginningAdd collections from customersTotal cash available1CO669Quarter (000 omitted)(000 omitted)234Year108369Less disbursements:Purchase of inventory475731Selling and administrative expenses323098Equipment purchases1092251Dividends2222Total disbursementsExcess (deficiency) of cash available over100(5)7disbursementsFinancing:BorrowingsRepayments (including interest) *Total financingCash balance, ending*Interest will total $1,000 for the year.Co6(13)

Cash budget is the statement prepared by the company by estimating the future possible cash receipts…

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.) Quarter (000 omitted) (000 omitted) 1 2 3 4 Year Cash balance, beginning $ 6 $ 6 Add collections from customers 108 369 Total cash available 69 Less disbursements: Purchase of inventory 47 57 31 Selling and administrative expenses 32 30 98 Equipment purchases 10 9 22 51 Dividends 2 2 2 2 Total disbursements 100 Excess (deficiency) of cash available over disbursements (5) 7 Financing: Borrowings Repayments (including interest) * Total financing Cash balance, ending *Interest will total $1,000 for the year. 6 (13)

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.) Quarter (000 omitted) (000 omitted) 1 2 3 4 Year Cash balance, beginning $ 6 $ 6 Add collections from customers 108 369 Total cash available 69 Less disbursements: Purchase of inventory 47 57 31 Selling and administrative expenses 32 30 98 Equipment purchases 10 9 22 51 Dividends 2 2 2 2 Total disbursements 100 Excess (deficiency) of cash available over disbursements (5) 7 Financing: Borrowings Repayments (including interest) * Total financing Cash balance, ending *Interest will total $1,000 for the year. 6 (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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