cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balaast $5,000 to start each quarter.equired:ll in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be inminus sign.)Quarter 1Quarter 2Quarter 3Quarter 4Year (000omitted)(000 omitted) (000 omitted) (000 omitted) (000 omitted)Cash balance, beginning$Add collections from customers696323Total cash availableLess disbursements:Purchase of inventorySelling and administrative expensesEquipment purchasesDividendsTotal disbursements71354535303011388103622285Excess (deficiency) of cash available over disbursements(2)11Financing:Borrowings15Repayments (including interest(17)Total financingCash balance, ending"Interest will total $1,000 for the year

Cash Budget -Cash Budget is the budget estimated by the organization for the future periods on the…

cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash ba ast $5,000 to start each quarter. equired: in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be minus sign.) Quarter 1 Quarter 2 Quarter 3 Quarter 4 (000 omitted) (000 omitted) (000 omitted) (000 omitted) Year (000 omitted) Cash balance, beginning $ Add collections from customers 323 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 interes Total financing Cash balance, ending 71 35 30 113 10 36 2 (2) 8 15

cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash ba ast $5,000 to start each quarter. equired: in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be minus sign.) Quarter 1 Quarter 2 Quarter 3 Quarter 4 (000 omitted) (000 omitted) (000 omitted) (000 omitted) Year (000 omitted) Cash balance, beginning $ Add collections from customers 323 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 interes Total financing Cash balance, ending 71 35 30 113 10 36 2 (2) 8 15

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 $3,000 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. Quarter 1 (000 omitted) $ 9 97 54 7 2 (5) Quarter 2 (000 omitted) 64 45 9 2 120 12 Quarter 3 (000 omitted) 124 30 29 2 12 Quarter 4 (000 omitted) 30 2 (12) Year (000 omitted) 431 137 55
am. 116.
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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Am. 1113.
Kat Ltd.'s September balance sheet contains the following information: Cash Accounts receivable. Allowance for doubtful accounts Merchandise inventory $ 37,500 (dr) 126,000 (dr) 2,800 (cr) 26,250 (dr) Management has designated $37,500 as the firm's minimum monthly cash balance. Other information about the firm and its operations is as follows: a. Sales revenues of $350,000, $420,000, and $312,500 are expected for October, November, and December, respectively. All goods are sold on account. b. The collection pattern for accounts receivable is 60% in the month of sale, 39% in the month following the month of sale, and 1% uncollectible, which is set up as an allowance. c. Cost of goods sold is 60% of sales revenues. d. Management's target ending balance of merchandise inventory is 10% of the current month's budgeted cost of goods sold. e. All accounts payable for inventory are paid in the month of purchase. f. Other monthly expenses are $49,250, which includes $3,500 of depreciation and…
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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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