education.com/ext/map/index.htm?.con-condexternal browser-06 nchurf-https%253A%252F%252Fccsu blackboard.com%252Fwebapps% omework Exercise 8-7 (Algo) Cash Budget [LO8-8] Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements Beginning cash balance Total cash receipts Total cash avaliable Total cash disbursements The company's beginning cash balance for the upcoming fiscal year will be $34,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $300,000 250,000 $309,000 $200,000 $ 269,000 $299,000 Required: Prepare the company's cash budget for the upcoming fiscal year (Repayments and interest should be indicated by a minus sign.) Excess (deficiency) of cash available over disbursements Financing Borowings Repayments Interest Ending cash balance $400,000 279,000 Seved $ Garden Depit Cash Budget 1st Quarter 0 < Prev 7 of 10 0 Sed Quarter 4th Quarter FO 0 0$ 0$ Next > 0 Year
education.com/ext/map/index.htm?.con-condexternal browser-06 nchurf-https%253A%252F%252Fccsu blackboard.com%252Fwebapps% omework Exercise 8-7 (Algo) Cash Budget [LO8-8] Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements Beginning cash balance Total cash receipts Total cash avaliable Total cash disbursements The company's beginning cash balance for the upcoming fiscal year will be $34,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $300,000 250,000 $309,000 $200,000 $ 269,000 $299,000 Required: Prepare the company's cash budget for the upcoming fiscal year (Repayments and interest should be indicated by a minus sign.) Excess (deficiency) of cash available over disbursements Financing Borowings Repayments Interest Ending cash balance $400,000 279,000 Seved $ Garden Depit Cash Budget 1st Quarter 0 < Prev 7 of 10 0 Sed Quarter 4th Quarter FO 0 0$ 0$ Next > 0 Year
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Concept explainers
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Question
Please Explain Proper Step by Step and Do Not Give Solution In Image Format And Fast Answering Please & And Thank you In Advance
![Hom: X
+
heducation.com/ext/map/index.html?_con-con&external browser=0&launchurt-https%253A%252F%252Fccsu.blackboard.com%252Fwebapps%
Homework
Total cash receipts
Total cash disbursements
Exercise 8-7 (Algo) Cash Budget [LO8-8]
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary
of its budgeted cash flows:
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
$ 250,000
$300,000
$ 209,000
$ 309,000
Beginning cash balance
Total cash receipts
Total cash available
Total cash disbursements
Excess (deficiency) of cash available over disbursements
Financing
Borrowings
Repayments
interest
The company's beginning cash balance for the upcoming fiscal year will be $34,000. The company requires a minimum cash balance
of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any
amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments
are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded.
Total financing
Ending cash balance
Required:
Prepare the company's cash budget for the upcoming fiscal year. (Repayments and interest should be indicated by a minus sign.)
$400,000
$ 279,000
Seved
$
Garden Dupot
Cash Budget
1st Quarter 2nd Quarter
0
0
0
0$
$280,000
$ 269,000
< Prev
7 of 10
0
0
3rd Quarter
#
0$
MacBook Air
0
4th Quarter
0 $
Next >
0
0
of
Hel
Year](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd331ce39-39fa-4d83-9e7b-112952f13094%2F88425866-d46b-4935-8ebd-ec2be75cf5b1%2F0scxl1r_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Hom: X
+
heducation.com/ext/map/index.html?_con-con&external browser=0&launchurt-https%253A%252F%252Fccsu.blackboard.com%252Fwebapps%
Homework
Total cash receipts
Total cash disbursements
Exercise 8-7 (Algo) Cash Budget [LO8-8]
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary
of its budgeted cash flows:
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
$ 250,000
$300,000
$ 209,000
$ 309,000
Beginning cash balance
Total cash receipts
Total cash available
Total cash disbursements
Excess (deficiency) of cash available over disbursements
Financing
Borrowings
Repayments
interest
The company's beginning cash balance for the upcoming fiscal year will be $34,000. The company requires a minimum cash balance
of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any
amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments
are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded.
Total financing
Ending cash balance
Required:
Prepare the company's cash budget for the upcoming fiscal year. (Repayments and interest should be indicated by a minus sign.)
$400,000
$ 279,000
Seved
$
Garden Dupot
Cash Budget
1st Quarter 2nd Quarter
0
0
0
0$
$280,000
$ 269,000
< Prev
7 of 10
0
0
3rd Quarter
#
0$
MacBook Air
0
4th Quarter
0 $
Next >
0
0
of
Hel
Year
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