Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summaryof its budgeted cash flows:Total cash receiptsTotal cash disbursements1st Quarter$ 210,000$ 281,000The company's beginning cash balance for the upcoming fiscal year will be $26,000. The company requires a minimum cash balanceof $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow anyamount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest paymentsare due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded.Beginning cash balanceTotal cash receiptsTotal cash availableTotal cash disbursementsExcess (deficiency) of cash available over disbursementsFinancing:BorrowingsRepaymentsInterestRequired:Prepare the company's cash budget for the upcoming fiscal year. (Repayments and Interest should be indicated by a minus sign.)Total financingEnding cash balance2nd Quarter 3rd Quarter$ 360,000 $ 240,000$ 251,000$ 241,000SGarden DepotCash Budget1st QuarterS2nd Quarter26,000 S210,000236,000(281,000)(45,000)55,0000055,00010,000 S10,000 S360,000370,000(251,000)119,0004th Quarter$ 260,000$ 261,000055,0001,65056,650175,6503rd Quarter 4th Quarter62,350 $240,000302,350(241,000)61,350S000061,350S61,350 S260,000321,350(261,000)60,350000060,350SYear159,7001,070,0001,229,700(1,034,000)195,70055,00055,0001,650111,650307,350

Cash budget is the statement which is prepared for determining the cash receipts and payments for a…

Garden Depot is a retaller 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 1st Quarter $ 210,000 $ 281,000 2nd Quarter $ 360,000 $ 251,000 3rd Quarter $ 240,000 $ 241,000 4th Quarter $ 260,000 $ 261,000 The company's beginning cash balance for the upcoming fiscal year will be $26,000. 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. Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments and Interest should be indicated by a minus sign.)

Garden Depot is a retaller 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 1st Quarter $ 210,000 $ 281,000 2nd Quarter $ 360,000 $ 251,000 3rd Quarter $ 240,000 $ 241,000 4th Quarter $ 260,000 $ 261,000 The company's beginning cash balance for the upcoming fiscal year will be $26,000. 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. Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments and Interest should be indicated by a minus sign.)

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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Garden Depot is a retailer that provided the following budgeted cash flows for next year: 3rd Quarter $ 220,000 $ 227,000 Total cash receipts Total cash disbursements 1st Quarter 2nd Quarter $ 190,000 $ 340,000 $ 267,000 $ 237,000 The company's beginning cash balance for next year will be $22,000. 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: Borrowings Repayments Interest Total financing Ending cash…
Bries Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $18,800. Budgeted cash receipts total $187,000 and budgeted cash disbursements total $189,600. The desired ending cash balance is $30,800. To attain its desired ending cash balance for January, the company should borrow: Multiple Cholce $14,600 $0 $30,800 $47.000
am. 119.
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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: es Total cash receipts Total cash disbursements 1st Quarter $ 250,000 $ 309,000 2nd Quarter $ 400,000 3rd Quarter $ 280,000 4th Quarter $ 300,000 $ 279,000 $ 269,000 $ 289,000 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. Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments, interest, and cash deficiencies should be indicated by a minus sign.)
Vishnu
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