Exercise 7 (Cash Budget Analysis)A cash budget, by quarters, is given below for a retail company (000 omitted).The company requires a minimum cash balance of P5,000 to start each quarter.Quarter34YearCash balance, beginningP 9P ?P ?P ?P ?125391Add collections from customersTotal cash available85_?Less disbursements:Purchase of inventory.405832?Operating expenses4254180Equipment purchases108.36DividendsTotal disbursements110Excess (deficiency) of cash availableover disbursements(3)30Financing:Borrowings? 20?Repayments (including interest)*(?)(7)(?)1.Total financingCash balance, endingP ? P ?P 2P 2P 2* Interest will total P4,000 for the year.Required:Fill in the missing amounts in the table above.8

Cash Budget:- It is a company's estimation of cash inflow and outflow over a period of time which…

A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of P5,000 to start each quarter. Quarter 3. 4 Year P ? P ? P ? P ? Cash balance, beginning P 9 125 391 Add collections from customers Total cash available 85 Less disbursements: 58 32 Purchase of inventory. Operating expenses Equipment purchases 40 42 54 180 10 8. 8. 36 Dividends 2 Total disbursements 110 Excess (deficiency) of cash available over disbursements (3) 30 Financing: Borrowings 20 Repayments (including interest)* (?) (7) (?) Total financing Cash balance, ending P ? P ? P ? P 2 P 2 * Interest will total P4,000 for the year. Required: Fill in the missing amounts in the table ahove

A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of P5,000 to start each quarter. Quarter 3. 4 Year P ? P ? P ? P ? Cash balance, beginning P 9 125 391 Add collections from customers Total cash available 85 Less disbursements: 58 32 Purchase of inventory. Operating expenses Equipment purchases 40 42 54 180 10 8. 8. 36 Dividends 2 Total disbursements 110 Excess (deficiency) of cash available over disbursements (3) 30 Financing: Borrowings 20 Repayments (including interest)* (?) (7) (?) Total financing Cash balance, ending P ? P ? P ? P 2 P 2 * Interest will total P4,000 for the year. Required: Fill in the missing amounts in the table ahove

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
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2. Cash Receipts Budget and Accounts Receivable Aging Schedule Shalimar Company manufactures and sells industrial products. For next year, Shalimar has budgeted the following sales: Quarter 1 $4,620,000 Quarter 2 5,610,000 Quarter 3 1,190,000 Quarter 4 7,840,000 In Shalimar’s experience, 10 percent of sales are paid in cash. Of the sales on account, 65 percent are collected in the quarter of sale, 25 percent are collected in the quarter following the sale, and 7 percent are collected in the second quarter after the sale. The remaining 3 percent are never collected. Total sales for the third quarter of the current year are $5,640,000 and for the fourth quarter of the current year are $7,320,000. Required: Question Content Area 1. Calculate cash sales and credit sales expected in the last two quarters of the current year, and in each quarter of next year. Quarter Cash Sales Credit Sales 3, current year $fill in the blank 0b62a1fb700f07d_1 $fill in the blank…
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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Schedules of Expected Cash Collections and Disbursements; Income Statement; Balance Sheet [LO8-2, LO8-4, LO8-9, LO8-10] Skip to question [The following information applies to the questions displayed below.] Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company’s balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash $ 86,000 Accounts receivable 138,000 Inventory 75,000 Plant and equipment, net of depreciation 229,000 Total assets $ 528,000 Liabilities and Stockholders’ Equity Accounts payable $ 90,000 Common stock 351,000 Retained earnings 87,000 Total liabilities and stockholders’ equity $ 528,000 Exercise 8-12 (Algo) Beech’s managers have made the following additional assumptions and estimates: Estimated sales for July, August, September, and October will be $400,000, $420,000, $410,000, and $430,000,…
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Cash Flow Budget Assumptions: Beginning balance is $20,000 Cost of goods sold is 80% of sales Building rent is $3,000 a month Accounts payable turnover ratio is 12 Accounts receivable ratio is 6 Inventory turnover ratio is 6 A quarter of sales are paid in cash Minimum cash balance is never less than $5,000
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