Garden Depot is a retailer that provided the following budgeted cash flows for next year: Total cash receipts Total cash disbursements. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $ 480,000 $ 370,000 $360,000 $ 400,000 Borrowings Repayments The company's beginning cash balance for next year will be $18,000. The company requires a minimum cash balance of $10,000 and may borrow money at the beginning of any quarter and may repay any part of its loans at the end of any quarter. Interest payments, based on a quarterly interest rate of 3%, are due on any principal at the time it is repaid. For simplicity, assume interest is not compounded. Required: Prepare the company's cash budget for next year. Note: Repayments, interest, and cash deficiencies should be indicated by a minus sign. Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: $410,000 $360,000 Garden Depot Cash Budget 1st Quarter $430,000 $ 380,000 2nd Quarter 3rd Quarter 4th Quarter Year

Garden Depot is a retailer that provided the following budgeted cash flows for next year: Total cash receipts Total cash disbursements. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $ 480,000 $ 370,000 $360,000 $ 400,000 Borrowings Repayments The company's beginning cash balance for next year will be $18,000. The company requires a minimum cash balance of $10,000 and may borrow money at the beginning of any quarter and may repay any part of its loans at the end of any quarter. Interest payments, based on a quarterly interest rate of 3%, are due on any principal at the time it is repaid. For simplicity, assume interest is not compounded. Required: Prepare the company's cash budget for next year. Note: Repayments, interest, and cash deficiencies should be indicated by a minus sign. Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: $410,000 $360,000 Garden Depot Cash Budget 1st Quarter $430,000 $ 380,000 2nd Quarter 3rd Quarter 4th Quarter Year

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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