Bright Path Pharmacy has budgeted the following cash flows for January: Cash Receipts: $125,000 For inventory purchases: $105,000 For selling & administrative (S&A) expenses: $40,000 For interest expense: $1,000 Bright Path Pharmacy had a cash balance of $15,000 on January 1. The company desires to maintain a cash cushion of $10,000. Funds are assumed to be borrowed and repaid on the last day of each month. How much does the company need to borrow at the end of January to maintain its cash cushion?
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- What is the amount of budgeted cash payments if purchases are budgeted for $190,500 and the beginning and ending balances of accounts payable are $21,000 and $25,000, respectively?answer this accounting question asapGeneral Accounting: Munoz Medical Clinic has budgeted the following cash flows: Cash receipts - $135,000 Cash payments For inventory purchases - $98,000 For S&A expenses - $42,000 For interest expense - $950 Munoz Medical had a cash balance of $14,000 on January 1. The company desires to maintain a cash cushion of $9,300. Funds are assumed to be borrowed and repaid on the last day of each month. How much does the company need to borrow at the end of January to maintain its cash cushion?
- Rooney Medical Clinic has budgeted the following cash flows. January February March Cash receipts $ 113,000 $ 119,000 $ 139,000 Cash payments For inventory purchases 96,500 78,500 91,500 For S&A expenses 37,500 38,500 33,500 Rooney Medical had a cash balance of $14,500 on January 1. The company desires to maintain a cash cushion of $6,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 2 percent per month. Repayments may be made in any amount available. Rooney pays its vendors on the last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability account from last year’s quarterly results. Required Prepare a cash budget. (Round intermediate and final answers to the nearest whole dollar amounts. Any repayments should be indicated with a minus sign.)Baird Medical Clinic has budgeted the following cash flows. February $108,000 January March Cash receipts Cash payments For inventory purchases For S&A expenses $102,000 $128,000 91,000 73,000 33,000 86,000 28,000 32,000 Baird Medical had a cash balance of $9,000 on January 1. The company desires to maintain a cash cushion of $7,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 3 percent per month. Repayments may be made in any amount available. Baird pays its vendors on the last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability account from this year's quarterly results. Required Prepare a cash budget. (Round intermediate and final answers to the nearest whole dollar amounts. Any repayments/shortage should be indicated with a minus sign. ) Cash Budget January February March Section 1: Cash Receipts $ $ Total cash available Section 2: Cash Payments Total…Fanning Medical Clinic has budgeted the following cash flows. January $105,000 February $111,000 March Cash receipts Cash payments For inventory purchases For S&A expenses $131,000 92,500 33,500 74,500 34,500 87,500 29,500 Fanning Medical had a cash balance of $10,500 on January 1. The company desires to maintain a cash cushion of $10,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 3 percent per month. Repayments may be made in any amount available. Fanning pays its vendors on the last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability account from this year's quarterly results. Required Prepare a cash budget. (Round intermediate and final answers to the nearest whole dollar amounts. Any repayments/shortage
- Stuart Medical Clinic has budgeted the following cash flows: January February March Cash receipts $ 115,000 $ 121,000 $ 141,000 Cash payments For inventory purchases 97,500 79,500 92,500 For S&A expenses 38,500 39,500 34,500 Stuart Medical had a cash balance of $15,500 on January 1. The company desires to maintain a cash cushion of $8,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 1 percent per month. Repayments may be made in any amount available. Stuart pays its vendors on the last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability account from this year’s quarterly results. Required Prepare a cash budget.The accountant for Jean's Dress Shop prepared the following cash budget. Jean's desires to maintain a cash cushion of $10,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 1 percent per month. Required a. Complete the cash budget by filling in the missing amounts. b. Determine the amount of net cash flows from operating activities Jean's will report on the third quarter pro forma statement of cash flows. c. Determine the amount of net cash flows from financing activities Jean's will report on the third quarter pro forma statement of cash flows. Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the cash budget by filling in the missing amounts. (Any shortages or repayments should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.) Cash Budget Section 1: Cash receipts Beginning cash balance Add cash receipts Total cash…Gibson Medical Clinic has budgeted the following cash flows: January February March Cash receipts $ 108,000 $ 114,000 $ 134,000 Cash payments For inventory purchases 94,000 76,000 89,000 For S&A expenses 35,000 36,000 31,000 Gibson Medical had a cash balance of $12,000 on January 1. The company desires to maintain a cash cushion of $7,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 3 percent per month. Repayments may be made in any amount available. Gibson pays its vendors on the last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability account from this year’s quarterly results. prepare the cash budget
- The accountant for Stuarts Dress Shop prepared the following cash budget. Stuarts desires to maintain a cash balance of $19,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 2 percent per month. Required Complete the cash budget by filling in the missing amounts.Determine the amount of net cash flows from operating activities Stuarts will report on the third quarter pro forma statement of cash flows.Determine the amount of net cash flows from financing activities Stuarts will report on the third quarter pro forma statement of cash flows.The accountant for Baird's Dress Shop prepared the following cash budget. Baird's desires to maintain a cash balance of $24,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 1 percent per month. Required a. Complete the cash budget by filling in the missing amounts. b. Determine the amount of net cash flows from operating activities Baird's will report on the third quarter pro forma statement of cash flows. c. Determine the amount of net cash flows from financing activities Baird's will report on the third quarter pro forma statement of cash flows. Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the cash budget by filling in the missing amounts. Note: Any shortages or repayments should be indicated with a minus sign. Round your answers to the nearest whole dollar amount. Cash Budget July August September Section 1: Cash receipts Beginning cash balance…The accountant for Jean’s Dress Shop prepared the following cash budget. Jean’s desires to maintain a cash cushion of $10,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 1 percent per month. Required Complete the cash budget by filling in the missing amounts. Determine the amount of net cash flows from operating activities Jean’s will report on the third quarter pro forma statement of cash flows. Determine the amount of net cash flows from financing activities Jean’s will report on the third quarter pro forma statement of cash flows.